To SSG Capital Management Group
Future Retail has executed a binding term sheet for sale of 14% stake (including approx. 1.25% holding of management team) of Future Supply Chain Solutions ('FSCSL"), a subsidiary of the Company to SSG Capital Management Group.The consummation of this transaction is subject to fulfilment of certain condition precedents and applicable regulatory approvals, if any.
Consequent to sale of 14% stake of FSCSL, the Company will continue to be holding company of FSCSL and hold majority stake of 57.4% in FSCSL.
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