Metro Brands Ltd completes acquisition of Cravatex Brands Ltd

Metro Brands Limited had earlier announced regarding the acquisition of 100% shareholding of Cravatex Brands Limited (Cravatex), a company engaged in the business of importing, trading, selling, marketing, advertising, retailing and distribution of footwear, apparel and accessories under various brands including 'FILA' and 'Proline', subject to fulfilment of conditions as specified in the relevant agreements and statutory approvals.

On completion of all the necessary formalities, the acquisition of 100% shareholding of Cravatex by the Company has been concluded.

Shares of Metro Brands Limited was last trading in BSE at Rs. 833.10 as compared to the previous close of Rs. 834.90. The total number of shares traded during the day was 2503 in over 331 trades.

The stock hit an intraday high of Rs. 841.00 and intraday low of 823.05. The net turnover during the day was Rs. 2093467.00.

Source : Equity Bulls

Keywords

MetroBrands INE317I01021 Footwear Acquisition CravatexBrands