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Lululemon founder to sell half his stake for $845M

By The Associated Press
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Lululemon Athletica founder Dennis “Chip” Wilson will sell half his stake in the company as part of a truce that averts a potentially messy battle at the maker of yoga apparel and other exercise gear.

Under the deal announced Thursday, investment firm Advent International will pay Wilson $845 million for 20.1 million shares. That will whittle Wilson’s stake in Lululemon from nearly 28 percent to just under 14 percent.

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