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

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.