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Listed HK group buys Liechtenstein private bank

Citichamp Watch & Jewellery Group has agreed to buy the unit from embattled Switzerland-based Valartis Group for CHF77.7 million (US$80.5 million), as it bids to expand into the financial sector. The deal, subject to approval and targeted to close in the second quarter, will help in Valartis’ efforts to avoid bankruptcy, the group said earlier this week. Valartis had earlier sold another…

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