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Article: Grasim seen on the lookout for Graviera suitors.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- November 16, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov. 16--MUMBAI, India -- Grasim Industries, the AV Birla group major, is believed to be looking for suitors to sell its Graviera suiting brand along with some production facilities associated with it at Bhiwani, Haryana. The size for both the brand and the facilities is estimated at about Rs 100 crore.
Sources familiar with the situation told ET that the company is already in talks with some prospective buyers and that a deal is likely to be announced soon.
The fibre-to-cement major has already taken an in-principle decision to focus on its Grasim range of suiting and fabrics, and is keen to prune its portfolio of poorly performing businesses. "It's ...
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