HanesBrands Entered Into A Definitive Agreement To Sell The Intellectual Property And Certain Operating Assets Of The Company's Global Champion Business To Authentic Brands Group For $1.2B, With The Potential To Reach Up To $1.5B
Portfolio Pulse from Benzinga Newsdesk
HanesBrands has entered into a definitive agreement to sell the intellectual property and certain operating assets of its global Champion business to Authentic Brands Group for $1.2 billion, with the potential to reach up to $1.5 billion.
June 05, 2024 | 11:47 am
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HanesBrands is selling its global Champion business to Authentic Brands Group for $1.2 billion, with the potential to reach up to $1.5 billion. This sale could provide a significant cash influx and allow HanesBrands to focus on its core operations.
The sale of the Champion business will provide HanesBrands with a substantial cash influx, which can be used to pay down debt, invest in core operations, or return value to shareholders. This strategic move is likely to be viewed positively by investors, potentially driving the stock price up in the short term.
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