Future Retail has completed acquisition of Travel News Services (India) (TNSI) by paying Rs 65.42 crore in cash (after adjustments) to its existing shareholders for acquisition of entire equity shares of TNSI as per terms and conditions of share purchase agreement (SPA).
Consequent to the acquisition of the entire share capital, TNSI became a wholly owned subsidiary of the company. By virtue of said acquisition, the subsidiary companies of TNSI -- TNSI Retail and Welcome Retail (WRPL) -- have also became step down subsidiary/ies of the company. WRPL is a joint venture of TNSI into which TNSI holds 51% of the share capital.
Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.
