By  on May 27, 2009

TOKYO — Hong Kong-based YGM Trading Ltd. confirmed that one of its subsidiaries has signed a letter of intent for the possible purchase of Aquascutum from Japan’s Renown Inc.

In a statement posted on YGM’s Web site as well as the Hong Kong Stock Exchange Web site, the company said it is still negotiating the terms of the deal and no “formal agreement” has been reached thus far.

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