The Bombay Dyeing and Manufacturing Company Limited (BSE:500020) signed a term sheet to acquire additional 52.11% stake in PT. Five Star Textile Indonesia for $34 on June 22, 2018. The consideration shall be settled in cash. As per the terms, Bombay Dyeing shall acquire 3,409 shares in PT. Five Star. Prior to the transaction, Bombay Dyeing holds 33.89% stake in PT. Five Star. Upon-completion, Bombay Dyeing’s stake will increase to 86%. For the year ended December 31, 2017, PT. Five Star reported turnover of $1.83 million. The transaction is expected to be completed within 45 days. The Bombay Dyeing and Manufacturing Company Limited (BSE:500020) completed the acquisition of additional 52.11% stake in PT. Five Star Textile Indonesia on July 18, 2018.