Home / Knowledge / News / Textiles / CCI gives nod to RIL-Shandong Ruyi deal
CCI gives nod to RIL-Shandong Ruyi deal
11
Mar '15
Indian fair trade watchdog, Competition Commission of India (CCI) has approved the proposal of Reliance Industries to sell 49 per cent stake in a newly-formed textile firm to Chinese company, Shandong Ruyi.

“The Commission is of the opinion that the proposed combination is not likely to have an adverse effect on competition in India and therefore approves the said proposal,” CCI said in a statement.

Under the proposed deal, CSTT Co Holdings, an investment arm of Ruyi will acquire 49 per cent stake in a textile company to be incorporated by Reliance as a wholly owned subsidiary.

Reliance will transfer its entire textile business to the subsidiary and will hold the remaining 51 per cent stake in the new company.

Ruyi which operates in India under the Georgia Gullini brand will also transfer this business to the joint venture, while RIL will transfer its flagship textile brand, Vimal.

Giving its opinion, the regulator said that RIL and Ruyi have an overlap in men’s shirting, suiting and trouser fabric and in the men’s readymade trouser segments of the textile industry.

“It is observed that in all these segments, the share of both Ruyi and RIL is insignificant and a good number of other players are present,” it added.

“As regards the vertical relationship between RIL and Ruyi, it is observed that the same is insignificant and unlikely to give rise to competition concerns,” CCI noted.

The new subsidiary will build on RIL’s existing textile business and wide distribution network in India as well as Ruyi’s technology and its global reach.

It will also benefit from the strength of the ‘Vimal’ and ‘Georgia Gullini’ brands and has plans to debut a few of global brands of Ruyi.

Fibre2fashion News Desk - India


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Akta Adani
India Boulevard

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search