Henderson Investment is acquiring Camay Investment from parent Henderson Land Development.

In its filing to the Hong Kong Stock Exchange, Henderson Investment will buy Camay Investment for HK$934.5 million (US$121 million).

Camay operates six department stores under the name ‘Citistore’ and a Japanese-brand clothing shop in Hong Kong.

The company plans to diversify its business and revenue sources and enhance its resilience to fluctuations in the business environment, hence the acquisition, it says.