Chemical and textiles company GHCL board had approved the proposal to acquire UK-based retail home textile chain major Rosebys having a turnover of approximately $250 million with over 300 stores in UK.
Post acquisition, GHCL would become a fully integrated home textile company with its clasp across spinning, weaving, product design and development, sourcing and distribution to retail stores.
Shares of the company were trading at Rs131.10, down 3.71 per cent at the BSE.
marketing@alchempro.com
