Titan Industries has signed a binding offer with VALFAMILY S. L., Spain and Maison Favre Leuba, S.A Switzerland, on November 16, 2011, for the acquisition of brand ‘Favre Leuba’. This acquisition, when completed, will provide the company with global rights to the trademarks of this brand. This acquisition is being pursued on an asset purchase mode, for a sum under Euro 2 million.
The strategic rationale behind the acquisition is to complement and strengthen the existing watches brand portfolio of the company with a Swiss heritage brand. Favre Leuba, created in Switzerland in 1737, has a rich history in international markets, including in India.
Recently, ICRA has assigned an ‘A1+’ rating for Titan Industries’ (TIL) Rs 2,900 crore worth non fund based limits, enhanced from earlier of Rs 2,400 crore. The credit rating agency has also assigned an outstanding rating of AA+ with a positive outlook for Rs 200 crore fund based limits and an A1+ rating for Rs 10 crore commercial paper programme of TIL.
| Company Name | CMP |
|---|---|
| Titan Co | 4463.00 |
| Kalyan Jewell.India | 415.00 |
| Rajesh Exports | 122.88 |
| Senco Gold | 330.15 |
| Thangamayil Jeweller | 4201.45 |
| View more.. | |
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