Future Consumer Enterprise completes Nilgiris buyout

Future Consumer Enterprise today said it has acquired the remaining 2.03 per cent stake in Nilgiris, following which the south India-based supermarket chain has become its wholly-owned subsidiary.

In a BSE filing, Future Consumer Enterprise, part of the Kishore Biyani-led Future Group, said, "Consequent to further acquisition of equity shares of The Nilgiri Dairy Farm Private Ltd (NDF), aggregating to 2.03 per cent of the paid-up equity share capital of NDF, NDF has now become a wholly-owned subsidiary of the company".

Future Consumer Enterprise Ltd had announced acquisition of Nilgiris for an undisclosed sum in November, 2014.