The Competition Commission of India (CCI) on Tuesday, December 10, announced it has approved Nippon Express’ acquisition of 22% stake in Future Group’s logistics arm Future Supply Chain Solutions.
Future Supply Chain Solutions in September said that Japan-based Nippon Express will acquire 22% stake through a combination of primary issuance and secondary purchase from an existing investor.
The CCI in a tweet wrote it “approves acquisition by Nippon Express (South Asia & Oceania) of approximately 22% of the total issued and paid up share capital of the Future Supply Chain Solutions Limited.”
Nippon Express will also have representation on FSC’s board of directors, which will further strengthen its board through their strategic direction.
Full Content: Bloomberg
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