Raymond inks definitive pact with UCO NV, Belgium

Mumbai, June 01 (UNI) Raymond Ltd has entered into definitive agreements with UCO N.V., Belgium for combining the Denim business of the Company and UCO N.V. and its subsidiaries in a proposed 50:50 Joint Venture Company to be located in India.

Informing the BSE, the company said the transactions involve transfer of the respective Denim businesses of the above mentioned Companies to the proposed Joint Venture Company. The completion of the transaction is subject to certain conditions precedent and requisite regulatory and other approvals.

UNI SN PM AG1655