Olympic gymnast Li Ning’s Viva China buys Hong Kong’s iconic clothing chain Bossini at massive discount

Viva China Holdings, the sports talent agency founded by Chinese gymnastics star Li Ning, is to buy a controlling share of famed Hong Kong clothing chain Bossini International Holdings at a knock-down price.A joint venture company, 80 per cent owned by a Viva China subsidiary and 20 per cent by Keystar, an investment company, has offered to buy a 66.6 per cent stake in the clothes retailer for HK$46.62 million (US$6.01 million), Bossini said in a filing to the stock exchange on Friday.That…

from South China Morning Post https://www.scmp.com/business/investor-relations/article/3084524/olympic-gymnast-li-nings-viva-china-buys-hong-kongs