Reliance Consumer Products to acquire majority stake in Lotus Chocolate

It will also make an open offer to acquire up to 26 per cent stake in Lotus

Reliance Consumer Products (RCPL), a wholly-owned subsidiary of Reliance Retail Ventures will acquire 51 per cent controlling stake in Lotus Chocolate Company (Lotus) for Rs 74 crore and also make an open offer to acquire upto 26 per cent, Reliance Industries said in an exchange filing

 RCPL will acquire 65,48,935 equity shares of Lotus representing 51 per cent of the paid-up equity share capital of Lotus from the current promoter and promoter group of Lotus at a price per share of Rs. 113 aggregating to Rs 74 crore.

Also, RCPL and certain promoter group entities of Lotus have also agreed