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CHINA: Clothing major buys rival to create high-end portfolio

2013-06-21 12:35:33| Daily apparel & textile news and comment - from just-style.com

Shenzhen stock exchange-listed Chinese apparel firm Zhejiang Semir Garment Co has agreed to buy a 71% equity stake in regional neighbour Ningbo Zhongzhe Group for between CNY1.98bn (US$323m) and CNY2.26bn (US$368m).

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