Reliance Consumer buys 51% stake in Lotus Chocolate

The aggregate consideration stood at INR74 crore.

Reliance Consumer Products Limited (RCPL) has completed the acquisition of 51% of Lotus Chocolate Company Limited’s controlling stake. 

The acquisition involved an aggregate consideration of INR74 crore, the company noted. 

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RCPL also subscribed to non-cumulative redeemable preference shares of LOTUS for an aggregate consideration of INR25 crore.

Moreover, RCPL completed the acquisition of equity shares, in relation to the open offer made under SEBI Takeover Regulations.

RCPL has taken sole control of LOTUS, effective 24 May.