HONG KONG: (Bloomberg): Temasek Holdings Pte is postponing the sale of a minority stake in A.S. Watson Group, the retailer backed by Hong Kong tycoon Victor Li, as months of anti-government protests continue to rock the city, people with knowledge of the matter said.
The Singapore state investment company put the process on hold after failing to reach agreement on valuation with potential buyers, said the people, who asked not to be identified as the discussions are private.
In addition to the turmoil in A.S. Watson’s home market of Hong Kong, uncertainties around Brexit have affected the retailer’s business in the U.K., where it runs the Superdrug chain, one of the people said.
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