- RCPL subscribes to non-cumulative redeemable preference shares of Lotus for an aggregate consideration of Rs 25 crore
NE BUSINESS BUREAU
MUMBAI, MAY 26
Reliance Consumer Products (RCPL), fast-moving consumer goods arm of Reliance Retail Ventures (RRVL), on Thursday announce it has completed the acquisition of 51 per cent controlling stake in Lotus Chocolate Company for an aggregate consideration of Rs 74 crore.
According to a release from Reliance Retail Ventures on Thursday, RCPL has also subscribed to non-cumulative redeemable preference shares of Lotus for an aggregate consideration of Rs 25 crore.
RCPL has also completed the acquisition of equity shares pursuant to the open offer made under the Securities and Exchange Board of India (SEBI)’s takeover regulations.
RCPL has taken sole control of LOTUS with effect from Wednesday, the release said.
