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India's Titan to buy majority stake in Dubai's Damas at $283 million enterprise value

India's Titan to buy majority stake in Dubai's Damas at $283 million enterprise value

Reutersa day ago
July 21 (Reuters) - Indian jeweller Titan Company (TITN.NS), opens new tab said on Monday it would acquire a 67% stake in Dubai-based luxury jewellery retailer Damas at an enterprise value of 1.04 billion UAE dirham ($283.2 million), as it expands its presence in the Middle East.
(This story has been corrected to say Titan is buying Damas stake at 'enterprise value of $283 million,' not 'for $283 million,' in the headline and paragraph 1)
($1 = 3.6727 UAE dirham)
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