Fung Retailing Ltd., a wholly owned unit of the privately held Fung Group and other partners, has acquired a 70 per cent stake in South Korean children’s apparel maker Suhyang Group. The holding company of the Fung Group is privately held Fung Holdings (1937) Ltd., which is also a substantial shareholder of Hong Kong’s Li & Fung Ltd. Sources said that Li & Fung had agreed to acquire a majority stake in Suhyang Networks for roughly 200 billion yuan (US $ 188 million).
