Alpargatas completes sale of Toper and Queen to Sforza

The Alpargatas reported in fact that it has completed the sale of the operations related to trademarks and Queen Topper to the Sforza, investment group led by Carlos Wizard Malik. The deal, valued at 48.7 million R$, it was announced on 3 November last year.
The closing of the transaction was subject to certain conditions precedent, that were carried out according to the Sneakers. One of the requirements was the corporate restructuring for this business unit and formation of a new company, called BRS Sportswear industry and Commerce S.A. ("BRS").
Was also closed license agreement trademark usage between the Sneakers and the BRS, for buyers, through the BRS can use the brand name "Topper", for up to 15 years in the United States and China.
The Alpargatas reported even if it received the first installment of the purchase price of the Brazil operation, R$ 24.3 million. The payment of the second part, the same value, corrected for the CDI rate, will be made within 90 days of this Monday.