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CCI approves acquisition of Birla Textile Mills

Press Trust of India  |  New Delhi 

The Competition Commission has approved the Rs 233-crore deal for the of Birla Textile Mills (BTM) by and Industries.

"The Competition Commission of (CCI) has communicated to us their approval," and Industries said in a filing to the

Birla Textile Mills is the textile division of and Chemicals, located at Baddi, Himachal Pradesh.

"The consideration for purchase of BTM from Chambal works out be Rs 232.63 crore (including net current assets) subject to closing and other adjustments, if any," and Industries had earlier said in a regulatory filing.

Sutlej Textiles & Industries, the flagship company of the KK Birla Group, had received the approval from its Board of Directors to acquire Birla Textile Mills in March this year.

First Published: Fri, June 12 2015. 20:22 IST