The Competition Commission of India (CCI) approves the acquisition of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves the acquisition of 51% of the Expanded Share Capital of Target by the Acquirer TCNS Clothing Co. Limited (Target) from Aditya Birla Fashion and Retail Limited (Acquirer).
The Buyer is a publicly traded company and part of the Aditya Birla conglomerate. It is engaged in the retailing of branded products in the apparel, footwear and accessories segment, through its retail stores, online retail platforms and e-commerce marketplaces.
The Target is a publicly traded company engaged in the manufacturing, distribution and sale of women’s apparel, jewelry, footwear and beauty products, currently carried on under the brands Meaning what, W, Aurelia, Wishful, Elleven and Folk Song. The Target is also engaged in wholesale cash and carry trading (including through franchised outlets) of products in the above categories.
A detailed order from the ICC will follow.
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PPG/KMN
