Blackstone Invests INR17.50 Billion in Ryka Commercial Ventures
November 15 2019 - 1:15AM
Dow Jones News
By P.R.Venkat
Funds managed by Blackstone Group Inc. (BX) have invested 17.50
billion rupees ($243.2 million) in a fashion company in India.
The investment has been made in Ryka Commercial Ventures and
unit Future Lifestyle Fashions Ltd. (536507.BY), Blackstone and
Future Lifestyle said Friday.
Proceeds from the investment will be used toward retiring or
pre-paying some of Ryka's debt, the statement said.
Under the transaction Blackstone will also acquire a 6% stake in
Future Lifestyle.
The Indian company counts L Catterton and Apollo Global
Management among its major stakeholders.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
November 15, 2019 01:00 ET (06:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024