Brief: Jerash Holdings And Busana Apparel Group Sign Agreement To Form Joint Venture Company

Jerash Holdings (US)

21/03/2023 12:35

March 21 (Reuters) - Jerash Holdings (US) Inc  JRSH.O :
    * JERASH HOLDINGS AND BUSANA APPAREL GROUP SIGN AGREEMENT TO
FORM
JOINT VENTURE COMPANY
    * JERASH HOLDINGS (US) INC - NEW ENTITY TO PRODUCE APPAREL
IN
JORDAN FOR BUSANA’S CUSTOMERS
    * JERASH HOLDINGS (US) INC - AS PART OF THE AGREEMENT,
JERASH WILL
OWN A 51 PERCENT EQUITY STAKE IN THE JOINT VENTURE, AND BUSANA
WILL OWN 49 PERCENT
    * JERASH HOLDINGS (US) INC - COMPANIES WILL CONTRIBUTE A
PROPORTIONATE AMOUNT OF $1.5 MILLION AS WORKING CAPITAL TO
LAUNCH NEW ENTITY
    * JERASH HOLDINGS (US) INC - NEW COMPANY WILL OPERATE UNDER
THE
NAME, J&B INTERNATIONAL LIMITED

Further company coverage:  JRSH.O 

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