Peace Mark to Buy 50.7% Sincere Watch Stake for S$268.5 Million

Peace Mark Holdings Ltd., a Hong Kong-based watchmaker and retailer, is buying a 50.7 percent stake in a Singapore's Sincere Watch Ltd. for S$268.5 million ($186 million).

Peace Mark will pay S$214.8 million in cash and issue new shares worth S$53.7 million to buy the stake, the company said in a statement to the Hong Kong stock exchange today.