Li & Fung raised its stake to 21% from 15% in Toys R Us Asia

Hong Kong-based Fung Retailing, a corporate sibling of multinational retail group Li & Fung,raised its stake in the Toys R Us Asia to 21% from 15%. The Taj noteholders, consortium of holders of senior secured notes in the company which now control a 79% stake in Toys R Us Asia, and Fung Retailing have also agreed to new partnership terms in a transaction that values the company at about $900 million.