PARIS: Hong Kong tycoon Li Ka-shing has agreed to buy ailing retailer Marionnaud Parfumeries SA, injecting Parisian cachet into his Hutchison Whampoa Ltd empire by acquiring one of the leading perfume and cosmetics vendors in Europe.
The top French perfume retailer accepted a 534mil euro (US$706mil) takeover offer from Hutchison's A.S. Watson retail unit, which expressed ambitions to build the industry leader by expanding in Europe and taking the brand to Asia.
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