The Hour Glass unit to acquire Australian firm for $75.6m

SPV is a newly incorporated company that retails watches and related products.

The Hour Glass Limited subsidiary, The Hour Glass Australia, has signed an agreement to acquire all shares of A.C.N. 685 541 851 in SPV for $75.6m (AUD90m).

SPV is a newly incorporated company in Australia that retails watches and related products.

The Hour Glass said the acquisition is in line with the group’s strategy to continue expanding its presence in Australia and strengthening its retail footprint.

($1=AUD1.23)

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