• December 29, 2008

The company sold it to Peacock International Holdings, LLC last week, pursuant to an asset purchase agreement executed on the same day.

Under the terms of the asset purchase agreement, Peacock International purchased substantially all of the assets related to the Bill Blass licensing business for approximately $10.0 million in cash.

NexCen will use the proceeds from the sale, net of certain transaction costs, to pay down the debt associated with the Bill Blass business.--Nina Lentini