Aditya Birla Fashion & Retail to acquire 51% stake in 'Finesse International Design'

Aditya Birla Fashion & Retail announced that the 'ABFRL Acquisition Committee' of the Company has, today, approved a strategic partnership with India's leading designers 'Shantanu & Nikhil' by way of acquisition of 51% stake in 'Finesse International Design' (Finesse), a company primarily engaged in the business of bespoke occasion and ceremonial contemporary apparel for men and women under the brand name 'Shantanu & Nikhil'.

The said acquisition will be through a combination of primary equity infusion and secondary share purchase by way of signing of Share Subscription and Purchase Agreement and Shareholders' Agreement with Finesse and its shareholders. The completion of proposed acquisition is subject to necessary approvals and customary closing conditions.

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