Pantaloon demerges sports business

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Pantaloon Retail India Ltd, a part of the Future Group, today decided to split fashion and sports business of the joint venure entiy, Planet Retail Holdings Private Ltd.

The decision taken by the company’s board of directors was conveyed to Bombay Stock Exchange (BSE).

The Board also approved divestment from fashion business after retaining a minority holding and increasing holding in demerged sports business.

A joint venture with National Textile Corporation Ltd for modernisation and development of Gold Mohur Mills at Dadar, Mumbai and Apollo Mills at NM Joshi Marg, Curry Road, Mumbai was also cleared by the Board.

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