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Singapore Fund Buys Stake in Laox Duty Free: Nikkei Asia

Greenwich Investment Holdings took ownership of the 34.5% interest held by a unit of China’s Suning Appliance


Laox Duty Free
A Laox home electronics shop in Tokyo's Akihabara district. Photo: AFP

 

A Singapore-based investment fund has become the top shareholder in Laox, a Japanese operator of duty-free stores, Nikkei Asia reported.

Greenwich Investment Holdings took ownership of the 34.5% interest held by a unit of China’s Suning Appliance. Laox said the stake is worth 5 billion yen ($44 million).

Read the full report: Nikkei Asia

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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