Transaction is expected to close by 30 September 2015
Sutlej Textiles and Industries (Sutlej) announced that the Company has executed "Business Purchase Agreement" on 30 June 2015, for purchase of Birla Textile Mills (BTM), a Division of Chambal Fertilizers And Chemicals by Sutlej, as a going concern, on slump sale basis. The Competition Commission of India has already approved the present transaction. The transaction is subject to fulfillment of various other conditions, as mentioned in the aforesaid Business Purchase Agreement, and further requisite approvals.It is expected that the transaction shall be completed by 30 September 2015.
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