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Announced

POS Fashion Trading to acquire Lee Cooper China from Red Diamond for $16m.

Financials

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Transaction Value£12m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

Single Bidder

fashion

Majority

Hong Kong

Private

Clothing and Accessories

Pending

Domestic

Synopsis

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POS Fashion Trading agreed to acquire Lee Cooper China, which engages in brand management, franchising, and wholesale and retail activities in China, from Red Diamond, a wholly-owned Luxembourg-based subsidiary of Iconix, for $16m. The transaction, which is subject to the satisfaction or waiver of customary closing conditions, is expected to complete by the end of March 2021.

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