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Finance

Japan wallcovering company to buy Singapore peer

Nagoya-based Sangetsu makes overseas push

TOKYO -- Sangetsu plans to acquire Singaporean interior decor company Goodrich Global Holdings to help accelerate its business development in greater Asia, The Nikkei has learned.

In a deal to be announced as early as Thursday, the Nagoya-based wallcovering leader in Japan will pay a little over 2 billion yen ($17.7 million) to obtain around 70% of Goodrich Global from an investment fund and other shareholders.

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