Aditya Birla Fashion and Retail today announced a strategic partnership with India's leading designer Masaba Gupta to build a gen-next focused
fashion and lifestyle business under the popular and contemporary brand Masaba by way of entering into a Binding Term sheet to acquire 51% stake in the entity.
The proposed acquisition is subject to signing of definitive agreements, completion of closing conditions precedent to be set out in the definitive agreements and statutory approvals, if any.
The cost of acquisition is Rs 90 crore including secondary and primary infusion.
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