INDIA: Raymond To Acquire European Garment Manufacturer
Raymond, India's largest manufacturer of worsted suiting, is in the process of acquiring a European garment manufacturer, name and location as yet undisclosed. The transaction could be complete with a month, according to senior company officials. Sources say the amount involved in the deal may be as much as $50m, and may include the acquisition of brand rights. The takeover will be financed internally. In addition, the company plans to invest Rs150-200 crore in capital expenditure.
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