RCPL completes acquisition of 51% controlling stake in Lotus Chocolate Company
Has taken sole control of Lotus with effect from May 24, 2023
Reliance Consumer Products Limited, the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL) has completed the acquisition of 51% controlling stake in Lotus Chocolate Company Limited, the company has said in a press release.
“The stake has been acquired for an aggregate consideration of Rs. 74 crore. The company has 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 SEBI Takeover Regulations,” read the release.
RCPL has taken sole control of Lotus with effect from May 24, 2023.
