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Raymond to buy subsidiary of Gokaldas Exports
06 Apr '15
1 min read
Textile and apparel major Raymond has signed a share purchase agreement to buy a wholly-owned subsidiary of Gokaldas Exports, a leading manufacturer and exporter of apparel.
In a filing to the Bombay Stock Exchange, Raymond said that one of its unlisted wholly-owned subsidiary Silver Spark Apparel Limited has entered into a Share Purchase Agreement with Gokaldas Exports Limited, Robot Systems Private Limited and Mr Gautam Chakravarti for acquisition of entire shareholding in Robot Systems Private Limited, a wholly-owned subsidiary of Gokaldas Exports Limited.
The said transaction will be subject to the terms and conditions mentioned in the agreement(s) entered into by the parties, Raymond said.
The amount of the transaction was not disclosed.
Fibre2fashion News Desk - India
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