Caladium Investments gets CCI nod for acquiring minority stake in ABFRL
The Competition Commission of India (CCI) on Tuesday said it has cleared the proposed acquisition of a minority stake in Aditya Birla Fashion and Retail Ltd by Caladium Investments, an affiliate of Singapore-based sovereign wealth fund GIC.
The proposed transaction relates to the acquisition of a 7.49 per cent stake in Aditya Birla Fashion and Retail Ltd on a fully diluted basis by Caladium Investment Pte. Ltd by way of preferential issuance of equity and warrants.
In a tweet, the CCI said it has approved the "acquisition of approximately 7.49% shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by Caladium Investment Pte. Ltd (GIC Investor) by way of preferential issuance of equity and warrants".
In May, Aditya Birla Fashion and Retail Ltd (ABFRL) announced that it will raise up to Rs 2,195 crore from Caladium Investments, a GIC investor.
ABFRL is engaged in the business of manufacturing and retailing branded apparels while GIC is a leading investment