TCNS Clothing Co has informed that the company has entered into definitive agreements for combining with ABFRL, India’s leading fashion & apparel company, and a part of the Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through - (i) Acquisition of the founding promoter’s stake through a Share Purchase Agreement and a conditional public Open Offer followed by (ii) Merger between the two entities. The company has enclosed a press release on the above subject.
The above information is a part of company’s filings submitted to BSE.
