KPS Capital Partners LP has announced that its portfolio company American & Efird (A&E) signed definitive agreements to acquire majority ownership of Vardhman Yarns and Threads Limited from its joint venture partner, Vardhman Textiles Limited. Upon completion of the transaction, A&E will own 89 per cent of the joint venture and Vardhman Textiles will own the other 11 per cent. The transaction has been approved by A&E and Vardhman Textiles, but remains subject to approval from the Competition Commission of India and other customary closing conditions.
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Oerlikon announced that it has signed an agreement to acquire the entire staple fibres technology portfolio of Trützschler Nonwovens & Man-Made Fibers GmbH, Egelsbach, Germany. This company is part of the German Truetzschler Group, which is a specialist in fibre preparation for the yarn spinning and nonwovens industries. The acquisition expands the Manmade Fibers Segment’s technology portfolio and opens up access to new customers in the market for synthetic staple fibres.