Future Consumer Gets Board Nod For Disinvestment
Future Consumer Limited has informed that the board of directors of the company at its meeting approved the following:
1. Transfer of 40% stake held in Bloom Foods and Beverages Private Limited at fair market value.
2. Sale of investment held in Amar Chitra Katha Private Limited for an equity valuation of not less than Rs. 60.00 crore.
3. Disposal of non-functional/non-core investments held by the company in two non-operating subsidiary companies viz. Star and Sitara Wellness Limited and Express Retail Services Private Limited at their book value.
Further, for the purpose of giving effect to the aforesaid approvals, the board has authorized the committee of directors of the company to decide, inter alia, on the terms and conditions of the proposed transaction(s).