The Competition Commission of India (CCI) has approved the acquisition of TCNS Clothing Company Ltd by Aditya Birla Fashion and Retail Ltd.
The proposed combination involves acquisition of 51 per cent of the expanded share capital of TCNS Clothing Company Limited by Aditya Birla Fashion and Retail Ltd.
Aditya Birla Fashion is a listed company and part of the Aditya Birla conglomerate. It is engaged in retailing of branded products within the apparel, footwear and accessories segment, through its retail stores, online retail platforms and e-commerce marketplaces.
TCNS is a listed company engaged in the business of manufacturing, distribution and sale of women’s apparel, jewellery, footwear and beauty products, currently undertaken under the brands W, Aurelia, Wishful, Elleven and Folk Song.
TCNS is also engaged in the business of wholesale cash and carry trading (including sale through franchisee outlets) of products in the aforementioned categories.
Also read | TCNS to Merge with Aditya Birla Fashion and Retail Limited (ABFRL)
Also read | CCI clears Caladium's 7.49% stake buy in Aditya Birla Fashion
