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Hong Kong - Toray industries is close to finalising a deal to acquire a 30 per cent stake in one of the world's largest circular knitters, Hong Kong-based Pacific Textiles.

A report in the Nikkei Asian Review, citing sources, said that the Japanese Textile firm was expected to invest around 60 billion yen ($536 million) in acquiring the stake in Pacific making it the Group's largest shareholder.

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