Pearl Global Industries’ Wholly Owned Subsidiary -- Pearl Global (HK), Hong Kong has agreed to acquire remaining 20% stake in overseas Step-down subsidiary i.e. Pearl Grass Creations, Hong Kong. By way of this acquisition, the company intends to increase its stake in the Subsidiary Company from 80% to 100%. Cost of acquisition is $70,00,000 (including deferred consideration). The said acquisition is expected to be completed on May 15, 2023.
Pearl Global Industries is an end-to-end clothing vendor and supplier with a presence across the globe.
