Deal Street

July 14, 2017

Grasim Enters Into Share Transfer Agreement With Donear Group


Textile

Grasim Industries, an Aditya Birla Group company, has entered into a share transfer agreement with Mumbai-based Donear Group for the divestment of its 100% holding in its wholly owned subsidiary, Grasim Bhiwani Textiles.

Grasim Bhiwani is engaged in the business of manufacturing and marketing of polyester-viscose Fabric. GBTL constitutes a small proportion of Grasim’s consolidated financials with a revenue / EBITDA share of less than 1%. It registered a consolidated revenue of Rs. 9,980 crore and Ebitda of Rs. 2,142 crore in the March quarter.

The divestment is the outcome of the business portfolio review exercise from time-to-time. It is in the direction of consolidation and greater focus on core businesses of the company, said Graim.

HSA Advocates advised Donear Group with a team led by Managing Partner Amitabh Sharma along with Partner Aninda Pal and Principal Associate Kunal Rajpal.

Grasim Industries was advised by its in-house team.

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