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Superdry plc, a UK branded clothing company, has signed an IP JV with Reliance Brands Holding UK (RBUK) to sell its IP assets in India, Sri Lanka, and Bangladesh for £40 million. Superdry will receive £30.4 million cash, net of fees and taxes, and own 24% of the JV. Reliance Brands will manage the brand operations in the three countries and continue its partnership with Superdry. Superdry will use the proceeds to strengthen its balance sheet and fund its turnaround plan.
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