Ascena Retail Group completes $300M sale of Maurices

Mahwah-based Ascena Retail Group Inc. announced Tuesday it has completed the $300 million sale of Maurices Inc. to an affiliate of OpCapita LLP.

Ascena said it received about $210 million in cash before expenses, and a 49.6% interest in the OpCapita affiliate that will own Maurices.

Ascena will continue to support Maurices on its shared business service platform through a managed service agreement, it said, including IT support, supply chain, sourcing and back office functions.

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