It looks like Li & Fung Ltd. will continue to be hot on the acquisition trail.
Fresh from snapping up handbag company Van Zeeland Inc., Hong Kong-based sourcing giant Li & Fung Ltd. has lined up a new investor as it sets its sights on making more acquisitions. Singapore-based investment firm Temasek Holdings Ltd. has agreed to invest 3.9 billion Hong Kong dollars, or about $500 million, in the Hong Kong company via a specially reserved Li & Fung capital increase. Temasek will buy 168 million new Li & Fung shares at 23 Hong Kong dollars, or $2.95, a share, giving the Singapore company a 4.6 percent stake in Li & Fung. The latter said it will use most of the funding to fund further acquisitions.
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