Home / Knowledge / News / Apparel/Garments / CCI okays takeover of Pantaloon business by ABNL
CCI okays takeover of Pantaloon business by ABNL
26
Dec '12
The Competition Commission of India (CCI), India’s fair trade regulator, has permitted Aditya Birla Nuvo Ltd (ABNL) to acquire majority stake in Future Group’s Pantaloon brand business.
 
Forming a part of Kumar Mangalam Birla-led group, ABNL filed an application with CCI seeking its permission to takeover major stake in Pantaloon brand business of Kishore Biyani-led Future group through its subsidiary.
 
In its order, CCI stated that the proposed takeover is not foreseen to have a significant impact on competition in India, Business Standard reported quoting PTI.
 
The proposed deal would see ABNL acquiring Pantaloon Retail (India) Ltd (PRIL) business through its subsidiary Peter England Fashions & Retail Ltd (PEFRL).
 
Subsequent to the deal, Pantaloon format would no longer remain a part of PRIL.
 
In April this year, Future Group made a statement that ABNL would invest Rs. 16 billion in its flagship ‘Pantaloon’ business and would occupy a major stake in the Pantaloon format store chain, which would then be demerged from PRIL to be established as a separate entity.
 
Then in August this year, CCI turned down an application seeking approval for the said deal, terming it as ‘invalid’, as the terms of the final deal were then not approved by the boards of the concerned companies.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search