Textile company, Bombay Rayon Fashions (BRFL) today said that the company has entered into terms of understanding for taking over brand 'Guru' and other related retail business on going concern basis, with Italian company Jam Session Holdings Srl for a total consideration of 33 mn euros (about Rs 208 cr).
The acquisition is by excercising the call/put option within 42 months and till then operate the brand and business on a lease basis.The company has also approved the scheme of amalgamation of its wholly owned subsidiary Leela Scottish Lace into the company. BRFL had acquired controlling stake in Leela for Rs 155 crore last year.
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