Hungary s new immigration law, effective March 1, imposes stricter conditions for third-country nationals (TCNs). It introduces 24 types of permits, including 8 for employment, abolishing the previous flexible "residence permit for other purposes." Notably, it creates separate work permit categories for highly-skilled workers, low-skilled guest workers, and investors.
Aditya Birla Fashion acquires 51% stake in TCNS Clothing, becomes promoter moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Mumbai, May 8: TCNS Clothing (TCNS), India s leading women s ethnic-focused fashion player, today announced that it has entered into definitive agreements for combining with ABFRL, India s leading fashion & apparel company, and a part of the Aditya Birla Group. The transaction entails a combination of TCNS into ABFRL and will be carried out through - (1) Acquisition of the founding promoter s stake through a SPA and a conditional public open offer followed by (2) Merger between the two entities.
The acquisition is in line with the company's objective of building a comprehensive fashion portfolio across consumer segments and price points, the company said in a statement.
Aditya Birla Fashion and Retail plans to buy a controlling stake in women’s ethnic wear retailer TCNS Clothing. It will allow ABFRL to grow its ethnic wear business to ₹5,000 crore within three years, primarily driven by women’s wear