Metro Brands announces demerger of its FILA business
Metro Brands announced the demerger of its FILA business on Thursday. FILA involved the business of importing, trading, selling, marketing, advertising, retailing and distributing footwear, accessories and apparel in India, Sri Lanka, Pakistan, Bangladesh, Bhutan and Nepal. FILA is a wholly-owned subsidiary of the firm but Metro Brands will not issue any shares in consideration of the demerger.