PDS Multinational Fashions’ subsidiary to acquire 5% stake in Netherlands-based Zen Industries; Stock up 3%

The company acquired 5% shareholding consisting of 5,000 Preference Shares of EURO 100/- each at EUR 500,000.

Oct 20, 2021 09:10 IST India Infoline News Service

PDS Multinational Fashions Limited Subsidiary Smart Notch Industrial Limited, incorporated and registered in Hong Kong, has entered into Shareholders’ Agreement with Zen Industries B.V., a private company with limited liability incorporated under the laws of the Netherlands.

Zen Industries deals in the manufacturing, distribution, and retail of athletic and lifestyle footwear and apparel.

The company acquired 5% shareholding consisting of 5,000 Preference Shares of EURO 100/- each at EUR 500,000. The indicative period for completion of the acquisition is November 30, 2021.

“The Investment aligns with PDS sustainability goals and is synergistic for its supply chain (apparel portion). It should directly add as an opportunity for sourcing & manufacturing of apparel products,” company said in a filing on Tuesday.

The company stock was in demand during early deals on Wednesday and at around 9.55 am, PDS Multinational Fashions Limited was trading at Rs1379.00 per piece up Rs40.20 or 3.00% on the BSE.

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