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...
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.