Warnaco Group Inc. entered into an exclusivity agreement with Palmers Textil AG in connection with its previously announced plan to explore alternatives for its Lejaby lingerie and swimwear business. The potential sale is part of a plan to divest all of its swimwear businesses except Speedo and Calvin Klein.
Under the agreement, Warnaco granted Palmers and its shareholders the exclusive right to conduct negotiations related to the sale of the Lejaby business. Warnaco said that negotiations of definitive documentation are proceeding, but there can be no assurance that an agreement will be reached.
