CHENNAI: Raymond has stated in a release to the Bombay Stock Exchange that it has entered into definitive agreements with UCO N.V., Belgium, for combining the denim business of the company and UCO N.V., and its subsidiaries in a proposed 50:50 joint venture (JV) to be located in India. The transactions involve, inter alia, the transfer of the denim businesses of both the companies to the proposed JV.