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LEGWEAR ACQUISITION CORPORATION

 NEW YORK, Jan. 18 /PRNewswire/ -- Legwear Acquisition Corporation, a corporation organized by Grupo Synkro, S.A. de C.V. and a group of Mexican investors, announced late last night that it and the owners of Kayser-Roth Corporation have reached an agreement in principle to amend the terms of the original acquisition agreement in light of recent changes in Kayser-Roth Corporation's operating performance. The amended terms provide for a reduction in the purchase price to $170 million, plus the delivery to the seller of a warrant to purchase 10% of the equity of Legwear. The acquisition is expected to be completed on or before Jan. 28, 1994. The agreement in principle is subject to the negotiation and execution of definitive documentation and other conditions.
 -0- 1/18/94
 /CONTACT: Bob Stone or Michelle Jordan of The Dilenschneider Group, 212-922-0900/


CO: Legwear Acquisition Corporation; Kayser-Roth Corporation ST: New York IN: SU: TNM

TW-SH -- NY026 -- 2605 01/18/94 09:33 EST
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Publication:PR Newswire
Date:Jan 18, 1994
Words:159
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