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

By Chester YungFeaturesDow 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.

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.

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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)