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COLLINS & AIKMAN GROUP ENTERS INTO AGREEMENT TO SELL ITS KAYSER-ROTH CORPORATION SUBSIDIARY

 CHARLOTTE, N.C., Nov. 22 /PRNewswire/ -- Collins & Aikman Group, Inc. today announced that it has entered into a definitive agreement for the sale of its Kayser-Roth Corporation subsidiary to Legwear Acquisition Corporation, a corporation organized by Grupo Synkro, S.A. de C.V. of Mexico City, Mexico and members of the Ballesteros family, principal stockholders of the Mexican company. The purchase price will be approximately $233 million.
 The agreement is subject to financing and customary closing conditions. The transaction is targeted to close by the end of December.
 Kayser-Roth Corporation, based in Greensboro, N.C., manufactures and markets brand name and private label women's and men's legwear, including the "No nonsense" and "Burlington" brands.
 Collins & Aikman Group, Inc., a wholly-owned subsidiary of Collins & Aikman Holdings Corporation, owns Collins & Aikman Corporation, which manufactures and distributes automotive textiles, decorative upholstery fabrics, commercial floorcoverings and wallcoverings. Collins & Aikman Holdings Corporation is jointly owned by Blackstone Capital Partners L.P. and Wasserstein Perella Partners, L.P. and their respective affiliates.
 -0- 11/22/93
 /CONTACT: Paul Meeks of Collins & Aikman Group, Inc., 704-548-2350/


CO: Collins & Aikman Group, Inc.; Grupo Synkro, S.A. de C.V. ST: North Carolina IN: TEX SU: TNM

LD -- NY100 -- 7039 11/22/93 19:34 EST
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Publication:PR Newswire
Date:Nov 22, 1993
Words:207
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