| Aditya Birla Nuvo to pick up stake in Pantaloons Format biz|
MUMBAI, May 1, 2012
Aditya Birla Nuvo (ABNL) will acquire a controlling stake in Future Group's ‘Pantaloons Format' business following its demerger from Pantaloon Retail (India) Ltd. (PRIL).
The Pantaloons format, launched by Future Group in 1997, has 65 stores in 35 cities and a reverse logistics chain, Pantaloons Factory Outlet, which has 21 stores. In a statement, ABNL said the Pantaloon format would be demerged from PRIL, a BSE and NSE listed company.
As per the ...
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