INDIA: Bombay Rayon buys textiles firm for INR700m
Fabric and apparel maker Bombay Rayon Fashions is to buy Indore based textile company STI India Ltd (STI), it emerged today (27 October).
Bombay Rayon Fashions said its board has approved the purchase of a 70.56% stake in STI India for INR700m (US$15.7m). STI India specialises in cotton yarn and knitted fabrics.
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