Blackstone Future Lifestyle Fashions (FLFL) announced that funds managed by Blackstone have invested Rs 1,750 crore (including by way of debentures) in Ryka Commercial Ventures, the holding company of FLFL, and FLFL. With this transaction, Blackstone will be the only financial partnerin Ryka. As a part of the transaction, Blackstone has also acquired a 6% stake in FLFL through a block deal with Ryka.
Proceeds of the investment has been utilized to retire/pre-retire all existing financial obligations of Ryka, consolidating FLFL's encumbrances with one long term investor. FLFL and the Future Group are expected to benefit from Blackstone's portfolio operations team to create value in its business.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
