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Li & Fung Ltd Enters New Sourcing Arrangement With Wal-Mart Stores Inc

Thursday, 20 Sep 2012 04:32am EDT 

Li & Fung Ltd announced that together with its wholly-owned subsidiary, Direct Sourcing Group Pte. Ltd., entered into a new agency agreement with Wal-Mart Stores, Inc. that supersedes the previous buying agency agreements made on January 28, 2010. At the same time, the option agreement pursuant to which Wal-Mart Stores Inc had the option to purchase all of the shares of Direct Sourcing Group Pte. Ltd. was terminated.