- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Aditya Birla Fashion Looks To Buy TCNS Clothing Co
Current market capitalisation of TCNS Clothing is estimated at Rs 3,507.16 crore
Photo Credit : constructive.net.au
Aditya Birla Fashion Retail Ltd (ABFRL) is looking to acquire TCNS Clothing Co, owner of the listed women's branded apparel retailer that owns brands such as W, Elleven and Aurelia.
According to a media report, this deal, once concluded, will be the largest branded apparel buyout by Aditya Birla Group, USD 60-billion aluminium-to-telecom conglomerate.
The New Delhi-based Pasricha family and PE investor TA Associates together own 61.24 per cent of TCNS Clothing Co. The owners had mandated Credit Suisse to find a strategic or financial buyer.
The transaction will also trigger an open offer for an additional 25 per cent of the company. The current market capitalisation of TCNS Clothing is estimated at Rs 3,507.16 crore.
The new investor, if the open offer is fully bought into, could own up to 86.24 per cent of TCNS for Rs 3,016 crore, the report added.