BUZZ-HK's Esprit jumps on progress of potential deal with investor over European business

Reuters04-18

** Shares of apparel group Esprit Holdings Ltd jump as much as 34.1% to HK$0.275, their highest since April 11

** Stock on track for the biggest one-day rise since April 10; fourth biggest gainer on the Hong Kong bourse

** Esprit says it has entered into a memorandum of understanding (MOU) with a potential investor in relation to potential investment and cooperation, including managing, operating and restructuring the firm's European business with the investor taking an economic interest in the firm

** Esprit, with current market value of HK$722 mln ($92.20 mln), says the investor will perform due diligence review on the financial, legal and other matters with respect to the firm's European business

** Hang Seng Commerce & Industry Index gains 0.1%, Hang Seng Consumption Index rises 1.1% and Hang Seng Index adds 0.4%

** Esprit stock down 38.5% YTD

($1 = 7.8309 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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