New Delhi, Feb. 6 -- SP Apparels Ltd (SPAL), a leading apparel manufacturer and exporter, has formally entered into a definitive agreement to acquire a 100 percent stake in Young Brand Apparel Private Limited (YBAPL), a subsidiary of Bannari Amman Spinning Mills Limited. The acquisition encompasses the garment unit located at Palladam of Bannari Amman Spinning Mills Limited and a significant land and building parcel situated at SIPCOT (The State Industries Promotion Corporation of Tamil Nadu Limited), amounting to a total value of Rs. 223 crore. SPAL aims to acquire a 51.33% stake directly from Bannari Amman in Young Brand Apparel Private Limited, and concurrently, the company plans to undertake the acquisition of a 49% stake in YBAPL from ...