Private equity firm Blackstone has pumped in Rs 1,750 crore through debentures in Ryka Commercial Ventures Pvt Ltd and its subsidiary Future Lifestyle Fashions Ltd (FLFL), a joint press release from Blackstone and FLFL said.FLFL is an integrated fashion company with a diversified portfolio spanning 30 fashion brands (both owned and licensed) such as Lee Cooper, Indigo Nation, Jealous 21, BARE, aLL, among others. FLFL has 346 stores spread over 7.2 million square feet comprising company-operated chains Central and Brand Factory, EBOs, department stores and multi brand outlets. With this transaction, Blackstone will be the only financial partner in Ryka Commercial Ventures.As a part of the transaction, Blackstone has also acquired a 6 percent stake in FLFL through a block deal with Ryka."Proceeds of the investment have been utilised to retire/pre-retire all existing financial obligations of Ryka, consolidating FLFL’s encumbrances with one long term investor," the joint press … [Read more...] about Blackstone invests Rs 1,750 cr in Future Lifestyle Fashions and its holding company
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IXDS, a design firm that claims to help companies “design their future,” is now offering that service to everyone. Well, sort of. A special holiday app on the firm’s site lets you take a quiz to answer the question “What will your future look like?” While you take a Buzzfeed-style quiz that references hyped-up future-y concepts, including 3-D printing and drones, a rendering of an lo-fi city appears on the other side of your screen and takes on the characteristics of your chosen future. Don’t take the results too seriously. My future city had windmills and solar panels crammed in next to an apartment building and high rise–perhaps due to overpopulation? Regardless, it’s a fun little toy to play with while you await your holiday vacation (and the future). Try it here. advertisement advertisement advertisement … [Read more...] about Find Out What Your Future Looks Like With This Design Firm’s Simulator
Many environmentalists, and indeed countries, are dead-set against nuclear power, believing the safety risks trump all. But for others, the question–given the need need to cut carbon, and generate more electricity in the future–is not whether nuclear is necessary, but how to do it safely and at reasonable cost. advertisement advertisement One answer could be to invest big in small plants, known as small “modular” nuclear reactors (SMRs) that are about the size of rail cars, and have an output of less than 300 MW. We’ve written about SMRs before, but now, according to a new report by the Energy Policy Institute at the University of Chicago, SMRs are getting closer to adoption. And it’s easy to see why: They cost a tenth of large plants, are easier to construct, and would give a jolt to the economy if they were developed here in the U.S. “Clearly, a robust U.S. commercial SMR industry is highly advantageous to many sectors,” the … [Read more...] about Are Tiny Nuclear Reactors The Power Plant Of The Future?
In a fresh twist to the Essar Steel auction, JSW Steel may join the Numetal consortium as the second round of bidding comes to an end on Monday evening.In last minute negotiations, the Sajjan Jindal company may replace Aurora Enterprises as a minority shareholder in Numetal. The consortium is led by Russia's VTB Capital, and includes engineering giant TPE and Indo International Trading.With the exit of Aurora Enterprises, the decks may be clear for Numetal to make an eligible bid. In the first round, its bid was termed ineligible because Aurora Enterprises' Rewant Ruia belonged to the Ruia family.Close Confirming the development late on Monday evening, JSW Steel said: "In pursuance to this strategy, JSW Steel Ltd in the capacity of an investor joined Numetal & Steel Pvt Ltd in submitting a binding bid for Essar Steel Ltd, which is under the corporate insolvency resolution process as per the provisions of Insolvency Bankruptcy Code 2016." related news Essar … [Read more...] about Exclusive: JSW Steel may join Numetal consortium for Essar Steel bid
Tata Steel Europe’s proposed merger with Thyssenkrupp’s steel business in the continent is crucial for the two companies’ future.While Tata Steel wants to channel its resources and regain dominance in the domestic market, for Thyseenkrupp, the merger is crucial for its long-term strategy to become an engineering conglomerate.Much of the responsibility for the merger’s success lies on the shoulders of two men – TV Narendran, Tata Steel’s Global CEO and Managing Director, and his German counterpart Heinrich Hiesinger, CEO, Thyssenkrupp.Close India focus related news Essar Steel insolvency: Supreme Court sets aside NCLAT judgement, gives upper hand to banks Jet Privilege goes for brand revamp; to be known as 'InterMiles' Ideas for Profit | Berger Paints: Valuations look glossy, time to book gains Narendran, who in 2013 took over as the Managing Director for India and South Asia, was promoted last year. He became Tata Steel’s first ever … [Read more...] about Tale of two men: Why the Tata Steel Europe-Thyssenkrupp merger is crucial for Narendran & Hiesinger