Home / Knowledge / News / Apparel/Garments / SP Apparels Ltd to sell retail division for ₹81 cr

SP Apparels Ltd to sell retail division for ₹81 cr

27
Jan '20
Pic: S P Apparels
Pic: S P Apparels
India’s SP Apparels Ltd has decided to sell its retail division on a slump sale/going concern basis to SP Retail Brands Ltd, an independent firm promoted by strategic investors along with the promoters of the former. The deal worth ₹81 crore will be settled by the latter partly by cash and a portion through its compulsorily convertible preference shares.

The cash settlement will be partly made immediate and partly through deferred payment, according to a company press release.

This whole transaction needs to be approved by the shareholders and will take effect after taking all necessary clearances before the end of March 2020.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Feb 2020

France unveils environment score system for apparel

France has launched a system under which apparel may now display a...

Pic: Shutterstock

Textiles | On 21st Feb 2020

Indian textiles ministry to back small-scale firms

The Indian textiles ministry will contact small-scale manufacturers...

Pic: Shutterstock

Fashion | On 21st Feb 2020

Sycamore Partners buys 55% stake in Victoria's Secret

Sycamore Partners has acquired a 55 per cent stake in Victoria's...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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


February 2020

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


Advanced Search