New Delhi: India’s Antitrust Competition Commission (CCI) on Tuesday completed the acquisition of shares in clothes TCNS Delta Aditya Birla Fashion and Retail Ltd. Aditya Birla Fashion and Retail Ltd (ABFRL) is engaged in retailing of branded products, including skinfootwear and accessories segment. This organization is a listed company and part of a multi-industry consortium Aditya Birla . group.
The proposed combination involves Aditya Birla Fashion and Retail Limited’s acquisition of 51% equity in TCNS Clothing Co Ltd, the competition watchdog said in an official statement.
TCNS Clothing Co Ltd is a listed entity engaged in the business of manufacturing, distributing, wholesale cash and the business of shipping and selling women’s clothing.
Last month, ABFRL announced that it had entered into definitive agreements to acquire a 51% stake in women’s branded apparel company TCNS Clothing.
Transactions that exceed a certain value require CCI approval, as it tracks unfair trading practices in the market.