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Pearl Global Industries’ arm to acquire remaining 20% stake in Pearl Grass Creations

10 May 2023 Evaluate

Pearl Global Industries’ Wholly Owned Subsidiary -- Pearl Global (HK), Hong Kong has agreed to acquire remaining 20% stake in overseas Step-down subsidiary i.e. Pearl Grass Creations, Hong Kong. By way of this acquisition, the company intends to increase its stake in the Subsidiary Company from 80% to 100%. Cost of acquisition is $70,00,000 (including deferred consideration). The said acquisition is expected to be completed on May 15, 2023. 

Pearl Global Industries is an end-to-end clothing vendor and supplier with a presence across the globe.

Peers
Company Name CMP
Vardhman Textiles 510.35
Welspun Living 253.30
Arvind 501.50
Raymond Lifestyle 505.00
K.P.R. Mill 1158.90
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