PDS Multinational Fashions extends indicative time period for acquisitions in step down subsidiaries

The indicative time period for the acquisitions of 50% equity stake in Yellow Octopus Fashion and 100% equity stake in PG Capital FZE has been extended to October 31, 2021.

Aug 27, 2021 03:08 IST India Infoline News Service

PDS Multinational Fashions Limited informed the exchanges Friday that the indicated time period for the acquisitions of 50% equity stake in Yellow Octopus Fashion Limited and 100% equity stake in PG Capital FZE has been extended to October 31, 2021.

The company had earlier intimated that the acquisition of 50% Equity Stake in Yellow Octopus Fashion, a Company incorporated under the laws of England by the Company’s step-down subsidiary, PDS Multinational FZCO, a Company incorporated under the laws of Dubai, United Arab Emirates will be consummated on or before August 31, 2021.

It had also said that the acquisition of 100% Equity Stake in PG Capital FZE, a Company incorporated under the laws of Dubai, United Arab Emirates by the Company’s step-down subsidiary, PDS Multinational FZCO will be consummated on or before August 31, 2021.

“As mutually agreed between the above said parties, the indicative time period for completion of the aforesaid acquisitions has been extended to October 31, 2021. All other terms and conditions remain unchanged,” company said in a filing on Friday.

PDS Multinational Fashions Limited trade on Friday ended at Rs1284.45 per piece up Rs5.35 or 0.42% on the BSE.

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