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2007-4-18 11:48:00 a.m. HKT, XFNA
Hong Kong-listed Eagle Nice buys stake in Wayable Intl to bolster US, Europe
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HONG KONG (XFN-ASIA) - Eagle Nice (International) Holdings Ltd said it
entered into a preliminary agreement to buy a 17.02 pct stake in Wayable
International Inc, a move that will bolster its presence in the US and
European markets.
Eagle Nice said it does not have a strong footprint in the US and Europe
and its proposed investment in Wayable International will position the group
""to compete more effectively with other major global sportswear manufacturers.
""
The group, which will pay 113.38 mln hkd for the stake, is currently
engaged in the manufacture of sportswear for men, women and children on an
original equipment manufacturer basis.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/kmq xfnjcc/xfnkm
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