FOUNTAIN Set (Holdings), a leading Asian knitted fabric producer, was yesterday acquired by Super Brilliance, GS Capital Partners (Asia) and affiliates, and Longjoy Development for about $282 million. The three buyers bought about 188 million shares, or 24.38 per cent of Fountain Set's share capital, issued at $1.50 each. Super Brilliance - owned by Fountain Set chairman and managing director Ha Chung-fong and his family - became the largest shareholder in Fountain Set after its stake increased to 40 per cent from 25.6 per cent before the acquisition. GS Capital and affiliates and Longjoy, a wholly owned subsidiary of SHK Hong Kong Industries, each hold 4.99 per cent. A total of 11.46 per cent of the shares were held by another major shareholder, Value Partners. Its interest remained intact after the acquisition. The Fountain Set shares were sold by the company's vice-chairman and deputy managing director, Choi Kin-chung. Sun Hung Kai International yesterday announced an unconditional cash offer to acquire all the shares other than those already bought by the three buyers in the deal. Sun Hung Kai offered $1.50 a share, representing a premium of about 7.14 per cent to Fountain Set's closing price of $1.40 on December 5, the last day it traded.