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Fountain Set to Buy 81% Stake in Vietnamese Textile Firm

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Fountain Set (HKG:0420) agreed to acquire an 81% equity interest in a Vietnamese textile company for about $27.9 million, according to a Wednesday Hong Kong bourse filing.

The target, Hsing-Ta-Lian Vietnam, is based in Tay Ninh province, Vietnam, and produces knitted, dyed, and finished textile products.

The acquisition will make it an indirect subsidiary of Set Fountain, with its financial results consolidated.

The consideration will be paid in three cash installments, the filing said.

Fountain Set said the deal will strengthen its textile manufacturing capacity in Southeast Asia, improve supply chain efficiency, and support its overseas expansion strategy.

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