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Article: Banswara Syntex may buy out France's Carreman Michel.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- January 13, 2008
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Banswara Syntex may buy out France's Carreman Michel
Mumbai, Jan 13 (PTI) Banswara Syntex Ltd (BSL) is exploring the possibilities of buying out French textile maker Carreman Michel Thierry for around Rs 500 crore.
"BSL is certainly looking at acquiring Carreman, which has gained reputation in the US and European market," market sources said adding that the deal is expected to be inked in the next six months and the value would be around Rs 400-500 crore.
The acquisition would help BSL to get benefit of their market presence and the technical know-how for production of wool fabrics, mainly for western women's wear.
When contacted ...