Lycra is completely under the control of Shandong Ruyi’s creditors
Lycra has gained new ownership after its former parent company defaulted on a $400 million loan. New owners consist of Hong Kong-based China Everbright Ltd and Seoul-based Lindeman Partners. Ruyi bought Lycra from Koch Industries for $2.6 billion in 2019, borrowing about $1 billion for the deal. U.S. fiber creator Lycra has acquired new possession, … Read more