HSBC fund unit to buy Singapore's Sing Lun for $87 mln

SINGAPORE, March 31 (Reuters) - Vega Co Ltd, a wholly-owned subsidiary of The HSBC Private Equity Fund 6, is offering to buy Singapore-listed apparel maker Sing Lun Holdings Ltd SLHL.SI for S$119.6 million ($87 million).

Vega has offered S$0.46 per share for the apparel provider -- around a 18 percent premium over its last closing price of S$0.39, according to the offer document released late on Sunday.

Vega Co is seeking to privatise and de-list Sing Lun and said the Singapore firm's founder shareholders, who hold 53.48 percent, have agreed to sell their shares.

It also said two founder shareholders will become directors of the privatised firm.

Sing Lun also sources and distributes apparel. It's clients include GAP, Banana Republic and Ralph Lauren. (Reporting by Tan Wei Xin; Editing by Jan Dahinten)