A Hong Kong company said it has agreed to buy the business and assets of troubled British luxury clothing maker Aquascutum for £15 million ($24.2 million).
YGM Trading told the Hong Kong stock exchange late Thursday that the acquisition was based on the "substantial value" of the more than 160-year-old icon of British high-end fashion, which entered administration last month.
YGM has owned Aquascutum's brand licence for Asian markets since 2009.
YGM shares were 1.13 percent higher at HK$19.7 on Friday morning.
Source: AFP Global Edition