Temasek pays $5.7b for stake in Li Ka-Shing’s A.S. Watson
Temasek Holdings has agreed to buy a 24.95% stake in A.S. Watson, a health and beauty retailer owned by Hong Kong tycoon Li Ka-Shing, for HK$44 billion ($5.7 billion). A.S. Watson was seeking a dual listing in Hong Kong and London but this plan has now been postponed.
It is expected to be Singapore government-owned Temasek's single largest investment and represents a significant bet on the growth potential of the consumer sector in Asia. The transaction values A.S....
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