Question
Reliance Consumer Products (RCPL), the fast-moving
consumer goods (FMCG) arm of Reliance Retail Ventures (RRVL), has acquired a controlling stake in Lotus Chocolate Company Ltd. How much percent has RCPL acquired in the company?Solution
Reliance Consumer Products (RCPL), the fast-moving consumer goods (FMCG) arm of Reliance Retail Ventures (RRVL), has acquired a controlling stake in Lotus Chocolate Company Ltd. RCPL completed the acquisition of a 51 percent shareholding in Lotus Chocolate for an aggregate consideration of Rs 74 crore and subscribed to Lotus non-cumulative redeemable preference shares for an aggregate consideration of Rs 25 crore.
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