Global Logistic Properties's Unit Buys Hallmark International Investment for US$121.6 Million

By Chester Yung Features Dow Jones Newswires

Singapore-listed Global Logistic Properties Ltd. (MC0.SG) said Tuesday its unit CLF2 Singapore Pte. Ltd. has acquired investment firm Hallmark International Investment Ltd. for US$121.6 million.

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Global Logistic said Hallmark owns Kunshan Huacheng Weaving & Dyeing Co. Ltd., which manufactures fabrics related products in China. Both Hallmark and Kunshan Huacheng will become units of Global Logistic after the acquisition, the company said.

The deal was funded by internal resources, the company added.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 22, 2017 06:56 ET (10:56 GMT)