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Report: Hong Kong's SML Group explores sale

Hong Kong-based garment label maker SML Group Ltd. tapped Citigroup Inc. to look for a buyer for the business, Bloomberg News reported, citing people familiar with the matter.

Investment funds and other companies in the industry have expressed preliminary interest in SML, according to the people, who added that the company could go for approximately $500 million.

An SML representative did not immediately reply to requests for comment, and a Citigroup representative declined Bloomberg's request for comment.