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SABI Stock Sale
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Business New Haven
11/27/2000
By: BNH
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SHELTON - Top shareholders of Swiss Army Brands Inc. (NASDAQ: SABI) concluded a stock-purchase agreement under which 1.9 million shares will change hands, according to documents filed November 21 with the U.S. Securities & Exchange Commission.
Under the terms of the privately negotiated deal, Brae Group and its controlling shareholder, Louis Marx, will sell Victorinox AG a total of 1.9 million shares of Swiss Army for $9.6 million, or $5 per share - a 19-percent discount to the company's closing stock price on November 20.
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