Cortina Holdings plans to pay $84.5 million in cash for 18 boutiques now run by fellow luxury watch retailer Sincere Watch.

Besides the Sincere Watch chain of multi-brand retail outlets in Singapore and Malaysia, the target company also runs a similar business in Thailand under the Pendulum brand. 

These boutiques carry brands such as A. Lange & Söhne, Audemars Piguet, Franck Muller, IWC, Jaeger-LeCoultre, Panerai, Omega, Vacheron Constatin and Tudor.

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