Edelweiss Financial Services has successfully closed a transaction of INR 5,928mn (c.US$ 78mn) as the Exclusive Buy-Side Advisor to ICIL for acquisition of Home Textiles Business of GHCL.
The transaction involved the acquisition of the Home Textiles business of GHCL, having annual capacity of 45 mn mtrs of bed linen production at Bhilad, Gujarat, 19 brands and 52 trademarks, by ICIL on a slump sale basis. The transaction also includes the acquisition of specified assets (inventory and IPs) of USA subsidiary of GHCL. Overall purchase consideration of INR 5,928mn, subject to closing date adjustments. Post-acquisition, ICIL to become the world’s largest Home Textiles Bedding manufacturer, with an annual capacity of 153 mn mtrs. GHCL Limited is one of India’s largest home textile manufacturers.
Edelweiss Financial Services
Advised in the sale of
GHCL Limited (home textiles business)
to