The deal gives Titan immediate scale across all six GCC markets where Titan currently operates just 14 Tanishq stores, compared with Damas’ 146-store network

Titan Holdings, a wholly-owned subsidiary of Titan Company Ltd, has signed a definitive share purchase agreement with Damas International Ltd to acquire a 67 per cent shareholding in Damas LLC (UAE), the holding company for the Damas jewellery business across the Gulf Cooperation Council (GCC), from Qatar-based Mannai Corporation QPSC. This will be financed through a combination of debt cash balances and internal accruals......