OXM & Li Fung Division Co sign deal for Womenswear Group
02 May '06
2 min read
This will result in anticipated total after tax cash proceeds of approximately $67 million. The net cash proceeds plus the elimination of trade letters of credit associated with the womenswear business will increase the Company's available borrowing capacity by approximately $110 million, subject to the terms of its existing credit agreement.
Oxford Industries, established in 1974, is supported and administered entirely by Oxford Industries Inc, a diversified manufacturer and marketer of men's, women's, and children's apparel.
The Group's export trading arm is Li & Fung Limited – one of the largest export sourcing firm that manages the supply chain of high-volume, time-sensitive consumer goods through its office network in close to 40 countries.
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