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The Wall Street Journal yesterday reported that Belle International Holdings Limited agreed to buy apparel maker Fila Group's trademarks in China, Hong Kong and Macao for $48 million.

The report also said that Belle International Holdings Limited plans to buy Fila Group's retail business in Hong Kong for $1.1 million and Belle International Holdings Limited also will form a joint venture with Fila to market and distribute Fila's products in China.

Belle International Holdings Limited will own 85 percent of the venture and Fila Group will own the remainder.