Acquisition

YGM forfeits $41m in deposits

PUBLISHED : Monday, 30 March, 1998, 12:00am
UPDATED : Monday, 30 March, 1998, 12:00am

YGM Trading said it has forfeited deposits of $41.6 million for a property sale, after the buyer failed to complete the purchase. The company said failure to complete would not have a material impact on the company. In June, YGM agreed to sell Hong Kong properties to an independent third party for $208 million.