Future Ventures India (FVIL) has agreed to acquire 100% equity share capital of Express Retail Services (ERSPL) for an aggregate sum of Rs 61.35 crore. ERSPL is engaged in the business of retailing of groceries and food products through general convenience stores under the brand name ‘BIG APPLE’ for over past 6 years in Delhi and NCR region. The net sales from business of ERSPL, for the financial year 2012-13 are expected to be Rs 120.00 crore. ERSPL is a debt free company.
FVIL through, its subsidiary Future Consumer Enterprises, has significant presence in Delhi and NCR region. This acquisition will help consolidate its position in the region besides leveraging on its operational and administrative infrastructure.
On completion of the acquisition of ERSPL, it will be a wholly owned subsidiary of FVIL and the operational performance of the business will form part of the consolidated financials of FVIL.
Company Name | CMP |
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Adani Enterprises | 3250.00 |
Redington | 201.65 |
Amrapali Industries | 14.73 |
Rashi Peripheral | 323.50 |
Compuage Infocom | 3.95 |
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