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