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Lululemon to buy back 3.3 million shares from private-equity firm Advent

Lululemon Athletica Inc. LULU, -1.20% said overdue Thursday it has agreed to shop for again 3.3 million of its shares in a private transaction with budget affiliated with Advent International Corp. The shares will be repurchased below the corporate's not too long ago larger $600 million proportion buyback program, and funded with money readily available and borrowing, Lululemon said. Advent additionally has instructed Lululemon that it has bought an extra 6.7 million shares of the corporate's inventory. "Today's partial sale is consistent with our planned monetization of our interest in Lululemon. We remain actively involved with the company as investors and board members and look forward to its continued success," David Mussafer, chairman and managing partner at Advent and lead director of Lululemon's board, said in a commentary. Lululemon said the share acquire will be accretive to its fiscal 2018 income in line with proportion via about 3 cents. Shares of Lululemon had been flat in overdue buying and selling after finishing the common consultation down 1.2%.