Future Consumer acquires remaining 10% stake in Future Consumer Products

With this acquisition, FCPL has now become a wholly owned subsidiary of the Company.

Aug 26, 2019 02:08 IST India Infoline News Service

Future Consumer
Future Consumer Ltd. has completed the acquisition of the balance 10% of Future Consumer Products Ltd.

The company said in a filing, "This has reference to our earlier disclosures dated 6th February, 2019 relating to acquisition of balance stake of 10% in Future Consumer Products Limited (“FCPL”) by way of purchase of equity shares from the remaining shareholder(s) of FCPL." 

"In continuation to the same, this is to further inform you that, now having achieved the closing requirements as prescribed under the definitive agreement(s), the Company has acquired the balance stake of 10% in FCPL from its remaining shareholders. With this acquisition, FCPL has now become a wholly owned subsidiary of the Company. In terms of the aforesaid, the Shareholders Agreement between the Company and the other Shareholders stands terminated."

Future Consumer Ltd ended at Rs28.95 down by Rs1 or 3.34% from its previous closing of Rs29.95 on the BSE.

The scrip opened at Rs32 and touched a high and low of Rs32.90 and Rs28.70 respectively. A total of 22,52,887 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs5,560.62cr.

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