Home / Knowledge / News / Apparel/Garments / CCI clears FLFL proposal to divest Lee Cooper
CCI clears FLFL proposal to divest Lee Cooper
28
Mar '17
Courtesy: Lee Cooper
Courtesy: Lee Cooper
The Competition Commission (CCI) of India has approved the proposal of Kishore Biyani owned Future Lifestyle Fashions Ltd (FLFL), to transfer the business of Lee Cooper brand, to its step up subsidiary, Future Speciality Retail Ltd (FSRL). FSRL is a wholly owned subsidiary of Future Trendz Ltd (FTL), which in turn is a wholly owned subsidiary of FLFL.

According to media reports, FSRL would issue compulsorily convertible preference shares amounting to Rs 250 crore to FSRL CCPS Trust, whose trustee is Beacon Trusteeship Ltd.

As per the proposal given to the commission, the convertible preference shares will be converted into 26 per cent equity of FSRL on or before 48 months from the date of subscription. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Jan 2021

Belarus unveils five-year light industry plan

Bellegprom, the light industry concern of the Belarusian ministry of...

Pic: USDA/FAS

Textiles | On 23rd Jan 2021

US cotton exports rise on China demand: USDA report

Despite US cotton production falling 5 million bales from the...

Pic: Shutterstock

Apparel/Garments | On 23rd Jan 2021

Explore new markets for RMG industry: Bangladesh minister

Bangladesh commerce minister Tipu Munshi recently highlighted the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

One thing is certain, online sales will go up

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Rajesh Vig & Ritu Vig,

Rajesh Vig & Ritu Vig

Rajesh Vig and Ritu Vig, promoters of the kidswear brand Happy Feet,...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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


January 2021

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


Advanced Search