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Article: MAX AZRIA FINANCE ENDS UP WITH 29.81% STAKE IN ALGO.(Brief Article)
- Article from:
- WWD
- Article date:
- December 26, 2000
- Author:
CopyrightCOPYRIGHT 2000 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES -- Max Azria and Canada's Algo Group have finalized details of their strategic alliance in a multifaceted transaction giving Max Azria Finance Inc., a Canadian affiliate of Los Angeles-based BCBG Max Azria, a 29.81 percent stake in Montreal-based Algo.
Azria, president of AZ3, the maker of BCBG Max Azria and other labels, paid about $4 million for the stake, including $3.3 million for 21 million class A voting shares of Algo at a price of about 16 cents a share and, in a separate but related transaction, approximately $650,000 for 9.4 million class A voting shares at approximately 7 cents each. The latter purchase was made from 3739091 Canada, a ...