ITEM 8.01. OTHER EVENTS.
On February 18, 2009, Unifi Asia Holding, SRL, a wholly owned subsidiary of
Unifi, Inc. (the "Registrant"), entered into an Equity Interest Transfer
Agreement with Sinopec Yizheng Chemical Fiber Co., Ltd. ("YCFC"), to sell its
50% ownership interest in Yihua Unifi Fibre Industry Co. Ltd ("YUFI") to YCFC
for $9.0 million, subject to Chinese regulatory approvals and certain customary
closing conditions. Following the sale YUFI will be a wholly owned subsidiary of
YCFC. The Registrant anticipates that the sale will close prior to the end of
the Registrant's 2009 fiscal year and will not have a significant effect on the
Registrant's financial statements, or result in a material gain or loss for the
Registrant.
Add
UFI to Portfolio
Set Alert
Email to a
Friend