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BRIEF-Acorn International sells majority stake in HJX business
August 11, 2017 / 10:46 AM / 3 months ago

BRIEF-Acorn International sells majority stake in HJX business

Aug 11 (Reuters) - Acorn International Inc:

* Acorn International sells majority stake in HJX business

* Says ‍recently reached an agreement to sell a majority stake in its HJX business to a third-party investor and operator​

* Acorn international inc - ‍to sell a majority stake in its HJX business to a third-party investor and operator​

* Acorn international inc - ‍agreement includes establishment of a joint venture that will be controlled and operated by such third party​

* Acorn international inc - ‍joint venture is expected to be operational in coming months​

* Says ‍under terms of agreement, joint venture will help liquidate a large stock of HJX inventory​

* Acorn international - ‍JV will help transition certain expenses on pro rata basis to JV and allow acorn to divest day-to-day operational management to third-party team​

* Says ‍joint venture is expected to be operational in coming months​ Source text for Eikon: Further company coverage:

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