By A Mystery Man Writer
Superdry plc, a UK branded clothing company, has signed an IP JV with Reliance Brands Holding UK (RBUK) to sell its IP assets in India, Sri Lanka, and Bangladesh for £40 million. Superdry will receive £30.4 million cash, net of fees and taxes, and own 24% of the JV. Reliance Brands will manage the brand operations in the three countries and continue its partnership with Superdry. Superdry will use the proceeds to strengthen its balance sheet and fund its turnaround plan.
UK's Superdry sells S. Asia licenses to India's Reliance Retail
Reliance Retail Buys Superdry's South Asian IP Assets For £40 million
Superdry sells south Asian intellectual property in deal with
Reliance Brands to acquire majority ownership of Superdry IP for
Superdry to sell South Asia IP assets to JV with Reliance Brands
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superdry: Reliance Brands signs agreement to acquire majority
UK's struggling fashion retailer Superdry to sell its IP assets to