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ReturnIndia: Eastern Silk may buy European home furnishing co: Srcs
Author：
admin
PublishDate：
2007-07-23 15:16:00
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CNBC-TV18 has learnt that Eastern Silk is close to buying a company in Europe. Sources said that the deal size is seen at USD 30-60 million.
They added that Eastern Silk is eyeing Bangalore-based Kurlon too. Kurlon has 300 retail outlets and plans to add 100 more in FY08.
The board recently approved raising USD 100 million via overseas issue. They are also scouting for acquisitions in the domestic market. The overseas acquisition is expected to add 20% to the FY08 bottomline.
The management of the company refused to comment on the development.
Source: Industry Website
They added that Eastern Silk is eyeing Bangalore-based Kurlon too. Kurlon has 300 retail outlets and plans to add 100 more in FY08.
The board recently approved raising USD 100 million via overseas issue. They are also scouting for acquisitions in the domestic market. The overseas acquisition is expected to add 20% to the FY08 bottomline.
The management of the company refused to comment on the development.
Source: Industry Website
