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Business deals

Blackstone invests $244m in Indian fashion giant

Deal includes 6% stake in Future Lifestyle Fashions

FLF is one of India’s largest integrated and branded fashion companies. (Screenshot of company website)

NEW DELHI -- Global private equity company Blackstone has invested 17.5 billion rupees ($244 million) by way of debentures in Ryka Commercial Ventures, the holding company of Future Lifestyle Fashions, the companies said in a joint statement.

As a part of the transaction, Blackstone acquired a 6% stake in FLF through a block deal with Ryka, the statement said. With this transaction, Blackstone will be the only financial partner in Ryka.

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