While still looking for strategic options, including a possible sale of the rest of its business, the Iconix Brand Group has announced the completion of a transaction for the sale of a Chinese subsidiary, Starter China, for $16.0 million. The sale covers the rights to the Starter brand in China, Hong Kong, Taiwan and Macau. The name of the buyer has not been revealed. Iconix says the proceeds will be used to repay amounts due under its existing financial arrangements and for general corporate purposes. In April, Iconix announced the sale of Umbro China to HK Qiaodan for $62.5 million, but the company has not yet reported its completion.

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