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Aditya Birla Group to Restructure its Retail Business

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Kumar Mangalam Birla plans a makeover of his retail business by merging all the retail businesses of the group to establish a single listed retail company, states a leading daily. According to the media report, sources having direct knowledge of the matter said that Birla is likely to de-merge the Fashion & Lifestyle vertical from Aditya Birla Nuvo and create a company which will be led by Madura Garments. The sources also indicated that Madura Garments, More, Jayashree, and Pantaloon Fashion & Retail might be merged.

The Group is in talks with big PE players including Carlyle, Apax, KKR, Blackstone, and Temasek,  to sell minority stake in the company, the paper reports. As per a company official, the Group may look at raising about Rs 3,000 cr from two PE firms by selling around 20 percent stake in the retail business.

AB Nuvo’s Fashion & Lifestyle vertical earned revenues worth Rs 6,048 cr in FY15, almost 29 percent  of its total revenues.

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