Reuters logo
BRIEF-Iconix Brand Group announces sale of peanuts and strawberry shortcake brands
May 10, 2017 / 11:13 AM / 5 months ago

BRIEF-Iconix Brand Group announces sale of peanuts and strawberry shortcake brands

May 10 (Reuters) - Iconix Brand Group Inc:

* Iconix brand group announces sale of peanuts and strawberry shortcake brands

* Iconix Brand Group Inc- deal for for $345 million in cash,

* Iconix Brand Group - intends to use net proceeds from transaction plus additional cash on balance sheet to pay down approximately $362 million of debt

* Expects elimination of earnings from entertainment segment to be offset by interest savings from reduction of debt

* To use net proceeds from transaction plus additional cash on balance sheet to pay down approximately $362 million of debt

* Iconix Brand-definitive agreement to sell its interest in peanuts and strawberry shortcake brands to dhx media; deal expected to close by end of Q2 Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below