CORRECTED-(OFFICIAL)-India's Spentex buys Czech yarn maker

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MUMBAI, July 1 (Reuters) - Indian textile firm Spentex Industries Ltd. has acquired yarn maker Schoeller Litvinov K.S. in the Czech Republic for 25 million euros ($34 million).

The transaction will provide Spentex with a presence in high-end yarn segments in Europe, and add about 55 million euros to its revenue and another 6 million euros a year by way of cash flows, Spentex said in a statement.

"This acquisition is in line with our inorganic growth strategy ... (it) not only enhances our presence in the high margin European markets but also increases our client base substantially," Managing Director Mukund Choudhary said.

Yes Bank is the financial adviser to Spentex. ($1=.7346 Euro)