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Singapore firm to invest 
9 bn in Reid and Taylor
Tuesday, 24 June 2008, 19:30 IST
New Delhi: Singapore's Indivest Pte Ltd will invest 
9 billion in Reid and Taylor, a subsidiary of Indian textile firm S. Kumars Nationwide Ltd (SKNL), through a fresh issue of shares and warrants.
Indivest, an affiliate of GIC Special Investments, would own 25.4 percent of Reid and Taylor, valuing the SKNL subsidiary at 35.40 billion.
"The investment in Reid and Taylor by GIC Special Investments will help to substantially strengthen Reid and Taylor and SKNL's business and their ability to grow in the luxury fabric and apparel and other textile segments of the textile industry," SKNL said in a regulatory statement.
Source: IANS
9 billion in Reid and Taylor, a subsidiary of Indian textile firm S. Kumars Nationwide Ltd (SKNL), through a fresh issue of shares and warrants.
Indivest, an affiliate of GIC Special Investments, would own 25.4 percent of Reid and Taylor, valuing the SKNL subsidiary at 35.40 billion.
"The investment in Reid and Taylor by GIC Special Investments will help to substantially strengthen Reid and Taylor and SKNL's business and their ability to grow in the luxury fabric and apparel and other textile segments of the textile industry," SKNL said in a regulatory statement.
Source: IANS