Competition Commission of India (CCI) approves acquisition of approximately 7.49 per cent shareholding in Aditya Birla Fashion and Retail Limited (ABFRL) on a fully diluted basis by the Caladium Investment Pte. Ltd (GIC Investor) by way of preferential issuance of equity and warrants, a government release said

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"The Competition Commission of India (CCI) approves the acquisition of approximately 7.49% shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by the Caladium Investment Pte. Ltd(GIC Investor) by way of preferential issuance of equity and warrants (Proposed Combination)," the CCI release said.

Caladium Investment is wholly-owned by Lathe Investment Private Limited, an entity which is in turn wholly-owned by GIC (Ventures) Private Limited (GIC Ventures). The GIC Investor is a special purpose vehicle organized as a private limited company in Singapore that is part of a group of investment holding companies managed by GIC Special Investments Private Limited (GICSI).

ABFRL is a publicly listed company which along with its subsidiaries is engaged in the manufacture and retailing of branded apparel, footwear and accessories (AFA) and operates across India through its retail stores, as well as distribution through its exclusive brand outlets and Pantaloons stores, multi-brand outlets, shop-in-shop stores across departmental stores, own online retail platforms and third-party e-commerce marketplaces.

Detailed order of the CCI is awaited, the release said.