Malaysia’s Parkson divests Singapore unit to Hong Kong subsidiary for $167m

Parkson is housed under the Lion Group, which is helmed by Malaysian tycoon William Cheng.

Retail group Parkson Holdings Bhd has entered an agreement to dispose a 67.6 per cent stake in its Singapore-listed Parkson Retail Asia Ltd to its Hong Kong unit Parkson Retail Group Limited, pocketing S$228.51 million ($167.2 million) from the exercise.

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