Li & Fung in talks to buy S.Korea kids' apparel maker for $184 million: report

SEOUL Tue Nov 13, 2012 6:36am EST

The company logo of Li & Fung is displayed at Li Fung Tower where the company is based in an industrial district in Hong Kong August 3, 2012. REUTERS/Bobby Yip

The company logo of Li & Fung is displayed at Li Fung Tower where the company is based in an industrial district in Hong Kong August 3, 2012.

Credit: Reuters/Bobby Yip

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SEOUL (Reuters) - Hong Kong's Li & Fung Group (0494.HK) 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.

(Reporting by Joyce Lee)

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