The Competition Commission of India (CCI) has approved the acquisition of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves the acquisition of 51 per cent of the “expanded share capital”. The acquirer Aditya Birla Fashion and Retail Limited is a listed company and is 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.
The target company TCNS Clothing Co. Limited is a listed firm 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.