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INDIA : Deccan Chronicle acquires Future Capital in Rs 700 crore deal
Publish Date : 12-Dec-2011
Retail entrepreneur Kishore Biyani will seek to put an end to his troubles by exiting the business through two separate transactions worth over Rs 1,000 crore.
Deccan Chronicle will buy the stake owned by Kishore Biyani’s flagship firm, Pantaloon, in Future Capital Holdings in a diversification for the Hyderabad-based sports and Media Company. According to the sources, the Rs 600-700 crore deal has been concluded and is likely to be declared soon.
Mumbai-based Industrial Investment Trust (IITL) has acquired Pantaloon\'s 26% stake in its insurance joint venture Future Generali Life for Rs 250-300 crore, in a separate transaction.
