Brummer & Partners to buy Impress Newtex stake

Seated from left, Khalid Quadir, chief executive officer of Brummer & Partners Asset Management (Bangladesh) Ltd, signed an agreement with Reaz Ahmed Khan, chairman of Impress-Newtex Composite Textiles Ltd, to buy Impress-Newtex's stake, at the Westin Dhaka Hotel on Wednesday. Photo: Impress Telefilm

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.