Home / Knowledge / News / Textiles / A&E to increase stake in Indian JV VYTL to 89%
A&E to increase stake in Indian JV VYTL to 89%
31
Aug '16
Courtesy: A&E
Courtesy: A&E
American & Efird Global (A&E) will acquire additional 40 per cent of share capital in Vardhman Yarns and Threads (VYTL) from its JV  partner Vardhman Textiles, raising its stake in the JV to 89 per cent. A&E has received the nod for buying the additional stake from India’s Competition Commission. This transaction makes A&E the majority shareholder in VYTL.

VYTL manufactures sewing and other specialty threads, in which A&E earlier held a 49 per cent stake, while the rest was with Vardhman Textiles.

According to media reports, this transaction makes A&E the majority shareholder in VYTL, while Vardhman will now hold a minority stake.

The Competition Commission noted that the proposed combination will not have an appreciable adverse effect on competition in India, since both VYTL and Gutermann India (GI), a wholly-owned subsidiary of A&E, have insignificant market shares in the apparel, automotive and specialty threads segments. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

India to be largest cotton producer in 2018-19: USDA

Textiles | On 22nd Jun 2018

India to be largest cotton producer in 2018-19: USDA

For the fourth consecutive season, India is expected to be the...

Organic Basics gets Polygiene help for advanced underwear

Apparel/Garments | On 22nd Jun 2018

Organic Basics gets Polygiene help for advanced underwear

Danish firm Organic Basics is working with Swedish company Polygiene, ...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search