Luen Thai to buy Ocean Sky apparel operations

Singapore-based apparel company Ocean Sky Global (OSG) is set to be acquired by Hong Kong-listed Luen Thai Holdings for US$55m.

According to Ocean Sky International, parent company of OSG, the cash purchase consideration represents a premium of approximately 37.5% to OSG’s net tangible assets of US$40m (post-restructuring) and a price to earnings ratio of approximately 6.3 times to OSG’s net profit after tax and minority interests of US$9.1m as at 31 December 2011.

Luen Thai is a global apparel manufacturing and supply chain services provider with operations in the US, Indonesia, the Philippines and China.

For the full story, see the February 2013 edition of Textiles South East Asia. Not a subscriber? Subscribe HERE