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Celebrity Fashions Ltd has acquired the MEPZ unit of Ambattur Clothing Limited (ACL) for a total consideration of Rs 80 crore for the fixed assets and not as published in these columns on April 4.

The company has issued 8.75 per cent debentures for Rs 5 crore to ACL and paid the balance amount of Rs 75 crore in cash. Celebrity has also taken over the net current assets of the undertaking from ACL relating to the MEPZ plant.

More Stories on : Mergers & Acquisitions | Textiles

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