1. SSG Capital to buy 40% stake in Future Supply Chain Solutions

SSG Capital to buy 40% stake in Future Supply Chain Solutions

Asset management firm SSG Capital Management will acquire 40 per cent stake in Future Supply Chain Solutions (FSC) from existing shareholders, including Future Retail, for Rs 580 crore.

By: | Published: April 7, 2016 12:06 AM

Asset management firm SSG Capital Management will acquire 40 per cent stake in Future Supply Chain Solutions (FSC) from existing shareholders, including Future Retail, for Rs 580 crore.

Future Supply Chain Solutions is a logistics company in which Future Retail holds 70.17 per cent stake.

As per the deal, SSG Capital would acquire 14 per cent stake held by Future Retail Ltd (FRL) and its management team in FSC. It would buy the rest 26 per cent from another minority shareholder SKC Ltd.

Commenting on the deal, Future Retail MD Kishore Biyani said, “It is a step towards our stated intent of optimal monetization of some of the investments held by FRL (Future Retail). FRL has followed a multi pronged approach for strengthening its balance sheet and this partial monetization of its stake in FSC is a step in this direction.”

“It will result in estimated proceeds of up to Rs 185 crore for FRL’s stake. Given that the supply chain arm is of critical importancefor furtherance of Future Retail’s overall business objectives, FRL will continue to a hold majority stake of 57.4 per cent in FSC,” he added.

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