Future Consumer terminates its JV agreement with Mibelle A.G.

Future Consumer announced that the Committee of Directors duly authorized by the Board of Directors has on 27 May,2020, considered and approved termination of the joint venture arrangement with Mibelle A.G. and liquidation of joint venture company, Mibelle Future Consumer Products A.G. at Switzerland (JV Company) together with the business activities of its Indian subsidiary - Mibelle India Consumer Products Private pursuant to compliance with the applicable laws and subject to obtaining of necessary consents and approvals as may be required.

The Company is in the process of entering into definitive agreements/documents to give effect to termination of joint venture arrangement and liquidation of JV Company.

Powered by Capital Market - Live News