Brief: Future Consumer Approves Termination Of JV With Mibelle A.G.

Future Consumer

27/05/2020 15:17

May 27 (Reuters) - Future Consumer Ltd  FTRE.NS :
    * APPROVED TERMINATION OF JOINT VENTURE ARRANGEMENT WITH
MIBELLE
A.G.
    * APPROVED LIQUIDATION OF JV CO, MIBELLE FUTURE CONSUMER
PRODUCTS
A.G.
    * IN PROCESS OF ENTERING PACTS TO EFFECT TERMINATION OF JV,
LIQUIDATION OF JV CO
    * TERMINATES JV AS CURRENT ECONOMIC SITUATION AND
PERFORMANCE OF
JV AND ITS INDIAN UNIT IS COMMERCIALLY NOT VIABLE TO CONTINUE
    * UPON TERMINATION, MIBELLE INDIA CONSUMER PRODUCTS PVT LTD
SHALL
DISCONTINUE BUSINESS OPERATIONS IN INDIA
    * NO MATERIAL IMPACT ON BUSINESS OF CO DUE TO TERMINATION

Source text for Eikon:  ID:nBSE33jMzq 
Further company coverage:  FTRE.NS 

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