Alpargatas concludes 21.8 percent stake sale in Topper

Alpargatas S.A. has announced the completion of 21.8 percent stake in ASAIC comprising the Topper brand in Argentina to Carlos Roberto Wizard Martins. The company said in a statement that the aforementioned interest was adjusted based on foreign exchange variation, and that it has received the first instalment of 28 million Brazilian real (around 7 million dollars). The company added that the second instalment of 12 million Brazilian real (around 3 million dollars), will be paid up to December 26, 2016, as adjusted based on the CDI rate.