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.
The deal was funded by internal resources, the company added.
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(END) Dow Jones Newswires
August 22, 2017 06:56 ET (10:56 GMT)