Brummer & Partners to buy Impress Newtex stake
Brummer & Partners Asset Management (Bangladesh) Ltd Wednesday signed a deal with Impress-Newtex Compo-site Textiles Ltd to buy the latt-er's stake, says a statement.
Brummer & Partners will invest several million dollars in Impress-Newtex to expand the company's capacity and manufacture higher value added apparel products, the statement added.
Reaz Ahmed Khan, chairman of Impress-Newtex, and Khalid Quadir, chief executive officer of Brummer & Partners Asset Management (Bangladesh), inked the agreement at the Westin Dhaka Hotel.
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