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Hong Kong Li & Fung's major shareholders buy 55 pct of Japan's Kanematsu unit


Published : Wed, 07 Mar 2007 03:21
By : Agencies
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HONG KONG (XFN-ASIA) - Li & Fung (1937) Ltd, a private investment arm of Li & Fung Ltd's major shareholders, said it will acquire a 55 pct stake in Kanematsu Textile Corp (KTC), a wholly-owned unit of Japan's Kanematsu Corp.

It said the proposed investment is unrelated to the listed companies of the Li & Fung Group. The investment amount was not disclosed.

Li & Fung Ltd major shareholders Victor and William Fung are the principal shareholders of Li & Fung (1937) Ltd.

(1 usd = 7.8 hkd)

jun.concepcion@xfn.com

jc/rc

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