GIC buys stake in India's Reid & Taylor
The Singapore investment company spends $209 million on a 25.4% holding in the manufacturer of premium suitings and garments.
The Government of Singapore Investment Corp GIC will invest Rs9 billion $209 million to take a 25.4% equity stake in Reid Taylor India, a wholly-owned subsidiary of Indian company S Kumars Nationwide.
GIC, which manages more than $100 billion in funds globally, will make the investment through a purchase of new shares and warrants. GIC will route the investment through an affiliate company, Indivest. The deal values 100% of Reid Taylor India on an equity value basis at...
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