American corporation VF, the owner of many well-known brands of fashion, sports and work clothes, intends to allocate such jeans brands as Lee, Wrangler, Rustlers and Rock and Republic in a separate company. The shares of the new company, the aggregate annual revenue of which will exceed $2.5 billion, will also be traded on the stock exchange. It is expected that the operation for the spin-off of the new company will be completed in the first half of 2019. The operation involves a tax-free distribution of the shares of the new company between VF shareholders.
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