HONG KONG -- Shareholders of Li & Fung, the world's largest sourcing company, on Tuesday gave the green light to a 7.2 billion Hong Kong-dollar ($928.9 million) proposal that will allow its founding family to take the company private during a difficult business environment.
Companies
Li & Fung investors approve deal to delist Hong Kong trading house
Shareholders in century-old family-run business hit with big losses
Once a formidable middleman connecting retailers in the West with manufacturers in the East, Li & Fung’s business increasingly has been challenged by e-commerce, rising protectionism, and economic uncertainties amid the coronavirus. (Photo courtesy of Li & Fung)
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