Nike to sell Cole Haan brand to Apax Partners November 16, 2012 - 19:36 AMT PanARMENIAN.Net - Nike says it's reached a deal to sell its Cole Haan brand to private equity firm Apax Partners for $570 million, according to The Associated Press. The sneakers, clothing and sports gear maker said in May that it wanted to sell the leather shoe division and its Umbro soccer jersey brand as part of its plan to cut costs and focus on its core brands: Nike, Jordan, Converse and Hurley. Nike Inc. acquired Cole Haan in 1988, in a deal then worth about $95 million. The Beaverton, Ore., company last month announced the sale of Umbro to clothing licensing company Iconix Brand Group Inc. for $225 million. Nike shares are up $1.16, or 1.3 percent, to $91.99 just before the opening bell.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions”  The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions.Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha.Armenia: Protesters march to parliament, some spend the night on street The protesters did not disperse despite heavy rain that began at around 2 a.m. local time.Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. |
