Ludhiana-based vertically integrated textile group, Vardhman Textiles Limited, has sealed a share sale and purchase agreement (“SPA”), an amended and restated shareholders agreement, and other incidental and...
Grasim-Nuvo merger helps promoters shore up holding
The proposed merger between Grasim Industries and Aditya Birla Nuvo (ABNL) is in line with the group’s long-term strategy to shore up promoter holding to 40 percent in all listed entities. In May 2004, group chairman...
Merger will give capital to high-growth biz: Kumar Mangalam Birla
The Aditya Birla group on Thursday announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial...
Ten things to know about AB Nuvo and Grasim Industries merger
NEW DELHI: In a massive rejig, Aditya Birla NuvoBSE -18.40 % has been merged into Grasim IndustriesBSE -1.34 % to unlock value. “The merger will unlock value for shareholders,” said Kumar Mangalam Birla...
Grasim, Nuvo shares tank on merger reports
The Aditya Birla group companies, Aditya Birla Nuvo, Grasim and Idea Cellular lost a combined market value of Rs 5,300 crore on Wednesday following reports the group was merging its two holding companies, Grasim and...
Aditya Birla Group rejig may lead to Grasim-Nuvo merger
MUMBAI: After consolidating its garments business into a single entity last year, the $41-billion Aditya Birla Group is planning another round of corporate reorganisation to unlock value and beef up the balance sheet...
China approves Chinatex merger with COFCO
China’s State Council approved a merger of textile and grains trading group Chinatex Corp with the country’s largest grain processor and trader COFCO Group, the state assets supervisor said on Friday...
TA Associates in talks to buy stake in owner of fashion brand ‘W’
Private equity investor TA Associates Management Lp is in talks to acquire a minority stake in TCNS Clothing Co. Pvt. Ltd, which owns the ‘W’ brand of clothing for women, according to two people close to the development...
Provogue India to buy back shares worth Rs 50 cr
Garments maker Provogue India today said it will buy back shares worth Rs 50 crore from its shareholders through open market route. "The directors have approved to repurchase 50 lakh...
Jindal Poly’s share buyback offer opens on Aug 11
Jindal Poly Films, a firm active in the business of yarns and polymer films, today said its share buyback offer worth Rs 73 crore would open from August 11. The company would be buying back...
Kamadgiri Synthetics – Updates on Scheme of Amalgamation
Kamadgiri Synthetics Ltd has BSE about the Court Order dated June 29, 2009 passed by the Bombay High Court on June 12, 2009 approving the Scheme of Amalgamation of Stripes Apparels Ltd with Kamadgiri Synthetics Ltd. The...
S Kumars to acquire US based Hartmarx for $119 million
Textile major S Kumars is all set to acquire Hartmarx, one of the last remaining American clothing manufacturers and better known for dressing President Barrack Obama, for $119 million. Hartmarx, the men’s largest...
