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Titan to buy majority stake in Damas Jewellery, expand presence in GCC countries
The New Indian Express Kollam
|July 22, 2025
TITAN COMPANY has entered into an agreement to acquire a 67% stake in Dubai-based jewellery firm Damas from Qatar-based Mannai Corporation.
The consideration for the proposed transaction is based on an enterprise value of AED 1,038 million ($282 mn).
The Tata Group company, which runs Tanishq jewellery stores in India and abroad, would also have the option to acquire the balance 33% stake from Mannai after December 31, 2029.
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