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Macquarie announces Company's board of Directors has approved split apparel and accessories business

Source: Internet
Author: User
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Summary: Check the latest quotes Beijing time August 8 Evening News, Macaulay (Nasdaq:mcox) announced today, the company's board of Directors has approved the separation of clothing and accessories business. The split was based on an agreement reached on August 8, 2014, through the MIXBLU and its accompanying view of the latest market

Nasdaq:mcox announced today that the company's board of Directors has approved the separation of clothing and accessories business, the August 8 Evening News of Beijing time.

The split was based on a purchase agreement reached on August 8, 2014, which was completed by selling Mixblu and its affiliates to fast fashion China Limited, which was held by former CEO of Macaulay.

Before the agreement was reached, Macaulay had contacted a number of potential third party buyers, and an independent apparel company had evaluated the value of the Macaulay apparel and accessories business.

The deal is expected to be completed by September this year. (Li Ming)

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