RCPL has taken sole control of LOTUS with effect from May 24, 2023.
Further to the media release dated December 29, 2022, regarding acquisition of controlling stake in Lotus Chocolate Company (“LOTUS”), Reliance Consumer Products, (“RCPL”), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures (RRVL) has completed the acquisition of 51% controlling stake in LOTUS for an aggregate consideration of Rs. 74 crore.
The company has also subscribed to non-cumulative redeemable preference shares of LOTUS for an aggregate consideration of Rs. 25 crore.
The acquisition of equity shares pursuant to the open offer made under SEBI Takeover Regulations has also been completed by RCPL.