Paul Weiss Reps Liz Claiborne In $85M Mexx Deal

Law360, New York (September 2, 2011, 4:56 PM EDT) -- In a bid to hold down its losses, Liz Claiborne Inc. on Friday announced an agreement to sell the majority stake of its international brand Mexx to a joint venture led by private equity firm Gores Group LLC in a deal valued at $85 million.

In exchange for an 81.25 percent stake in Mexx, Gores Group agreed to pay $25 million in cash and take on $60 million in debt. Liz Claiborne will retain an 18.75 percent stake in the joint venture.

William L. McComb, Liz...
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