Acquisitions14 Nov 2024, 07:55 pm
Future Consumer Ltd. to Acquire Fonterra Future Dairy Private Ltd. from JV Partner
AI Summary
Future Consumer Ltd. announced the outcome of their Board Meeting held on November 14, 2024. The Board approved the acquisition of all the equity shares of Fonterra Future Dairy Private Ltd. (FFDPL) held by the JV Partner by Delect Spices And Herbs Private Limited, a step-down subsidiary of the Company. This acquisition will make FFDPL a subsidiary of Delect and a step-down subsidiary of Future Consumer Ltd. The acquisition is expected to be completed by November 30, 2025, subject to approval of terms and conditions.
Key Highlights
- Future Consumer Ltd. to acquire Fonterra Future Dairy Private Ltd. from JV Partner.
- Acquisition to make FFDPL a subsidiary of Delect and a step-down subsidiary of Future Consumer Ltd.
- Acquisition expected to be completed by November 30, 2025.
- No related party transactions involved.
- Acquisition for lumpsum cash consideration of Rs. 1,000/- per equity share.