Future Retail has informed that the Company has executed a binding term sheet for sale of 14% stake (including approx. 1.25% holding of management team) of Future Supply Chain Solutions Limited (FSCSL), a subsidiary of the Company to SSG Capital Management Group. The consummation of this transaction is subject to fulfillment of certain condition precedents and applicable regulatory approvals, if any. Consequent to sale of 14% stake of FSCSL, the Company will continue to be holding company of FSCSL and hold majority stake of 57.4% in FSCSL. Further the Company has submitted a copy of the press release dated April 06, 2016, titled ‘Future Supply Chain Solutions Ltd attracts PE investment 40% stake to change hands’.
The above information is a part of company’s filings submitted to BSE.
