# Toray acquires 28% stake in Pacific Textiles for HK$4.05 billion

Toray Industries agreed to acquire a 28.03% stake in Hong Kong-based Pacific Textiles Holdings from Far East Asia Limited for HK$4,053,940,000. Closing is expected mid-July 2017.

- Type: Acquisition
- Announced: 2017-07-06
- Where: Hong Kong SAR China
- Value: $520.0M (4.05B HKD)
- Status: announced
- Products: customised knitted fabrics
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Toray Industries](https://endata.com/companies/4565.md) (acquirer)
- [Pacific Textiles Holdings](https://endata.com/companies/25390.md) (target)
- [Far East Asia Limited](https://endata.com/companies/25391.md) (partner)

## Sources

- [knittingindustry.com](https://knittingindustry.com/toray-invests-in-hong-kong-knitter/), 2017-07-06: "Through this strategic investment, Toray expects to strengthen its business relationship with Pacific Textiles and further align the interests of the two groups."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.