Nike, Adidas Supplier Selling Off Retail Business to Advance Chain’s Privatization Plan

Leading footwear manufacturer Yue Yuen Industrial Holdings intends to sell its stake in retailer Pou Sheng International (Holdings), as part of a plan to take the store chain private. Yue Yuen, which according to its website is the largest manufacturer of athletic and casual footwear for major international brands, plans to sell its 62.41% stake in the…