Li & Fung to buy apparel maker
Updated: 2012-11-14 13:52
(China Daily)
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Hong Kong's Li & Fung Group is in talks to acquire South Korean children's apparel maker Suhyang Networks for roughly 200 billion won ($183.73 million), a South Korean newspaper reported on Tuesday.
Maeil Business Newspaper said Li & Fung recently completed due diligence on Suhyang and is currently in price negotiations, citing unidentified investment banking sources.
A Suhyang official authorized to speak on the matter could not be reached immediately.
Bloomberg - Reuters
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