gic-buys-stake-in-indias-reid--taylor

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 Rs35.4 billion.

The remaining 74.6% of Reid Taylor will continue to be owned by its parent S Kumars Nationwide, whose businesses include fabrics, apparel and home textiles as well as fibre categories such as natural,...
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