Shares of Pantaloon Retail (India) fell over 7%, touching the monthly low of Rs140, after the company said it will transfer its 53.67% stake in Future Capital Holdings ( FCH) to its wholly-owned subsidiary Future Value Retail ( FVRL).
Around 34.8 million shares would be transferred by Pantaloon Retail to FVRL at a weighted average market price of Rs133.89.
“The proposed transfer will be completed within 90 days starting May 18, 2012,' FCH said.
Meanwhile, the media report suggests that the Future group, owned by Kishore Biyani, will sell its 56% in FCH to the US-based private equity (PE) company Warburg Pincus.
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Around 34.8 million shares would be transferred by Pantaloon Retail to FVRL at a weighted average market price of Rs133.89.
“The proposed transfer will be completed within 90 days starting May 18, 2012,' FCH said.
Meanwhile, the media report suggests that the Future group, owned by Kishore Biyani, will sell its 56% in FCH to the US-based private equity (PE) company Warburg Pincus.
....more info