Listed Estonian garment seller AS Baltika signed an agreement earlier this month to sell the Monton trademarks in Europe to Shenzhen Maiteng International Apparel Co.Ltd, which operates the Monton Sports sportswear brand.
All proceeds from the sale will be used to repay a loan to the bank which holds a pledge to the trademark. Baltika Group will have the license to sell under the Monton brand for free until the end of 2023, Baltika informed the stock exchange.
The sale of the Monton trademarks is not considered a significant transaction pursuant to the Nasdaq Tallinn requirements for issuers.
The trademarks sell-off is part of the implementation of a new business model whereby, going forward, Baltika focuses only on developing and marketing the Ivo Nikkolo women s clothing brand.
Baltika sells Monton trademarks
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Baltika sells Monton trademarks Tallinn Stock Exchange:BLT1T
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