Clothing company Superdry Plc, headquartered in the United Kingdom, has announced a partnership with Mukesh Ambani s Reliance Brands Holding UK for the purpose of selling the company s intellectual property assets in India, Sri Lanka, and Bangladesh. As part of this joint venture, Reliance Retail Ventures RBUK and Superdry will hold ownership stakes of 76 per cent and 24 per cent each.
The deal has valued Superdry’s licences and brand assets at 40 million pounds and will result in Superdry PLC receiving gross cash proceeds of 30.4 million pounds
The deal, signed by Reliance Brands Holding, UK, has valued Superdry’s licences and brand assets at 40 million pounds. This will result in Superdry PLC receiving gross cash proceeds of 30.4 million pounds (approximately 28.3 million pounds, net of fees and taxes) from Reliance Brands Holding, UK., Companies News, Times Now
Reliance Brands through its wholly owned subsidiary in UK (RBUK), has on Wednesday signed a definitive agreement to enter a joint venture with UK-based Superdry PLC, marking a significant new chapter in its partnership with Superdry PLC.