GLP acquires Hallmark International Investment for $165.7m
Aug 23, 2017
Hallmark’s net tangible asset value is worth $61m. Global Logistic Properties Limited (GLP) acquired Hallmark International Investment Limited (Hallmark) for $165.7m (US$121.6m). According to its announcement, GLP was bought through an indirect subsidiary, CLF2 Singapore Pte. Ltd.
Hallmark holds a 100% stake in Kunshan Huacheng Weaving & Dyeing Co., Ltd. (Kunshan Huacheng). It manufactures and sells fabrics-related products. As of 30 June 2017, Hallmark's consolidated book value and net tangible asset value stands at $61m (US$44.8m). Following the acquisition, Hallmark and Kunshan Huacheng will become GLP's indirect subsidiaries. This is not expected to affect the company's performance for the fiscal year. Do you know more about this story? Contact us anonymously through this link . Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us. To get a media kit and information on advertising or sponsoring click here . More News