Reliance Deal: Lenders Reject, Shareholders Vote In Favour

SUMMARY FRL secured votes of 85.9% shareholders in favour of the proposed INR 24,713 crore deal with Reliance. 78.22% of the unsecured creditors also voted in favour of the proposed deal. However, a majority of secured creditors voted against the deal. As many as 69.29% of them vetoed the proposal Future Retail Ltd’s (FRL) plan [...]

FRL secured votes of 85.9% shareholders in favour of the proposed INR 24,713 crore deal with Reliance. 78.

22% of the unsecured creditors also voted in favour of the proposed deal. However, a majority of secured creditors voted against the deal. As many as 69.

29% of them vetoed the proposal Future Retail Ltd’s (FRL) plan to sell its assets to Reliance Industries Ltd (RIL) has failed as a majority of shareholders of the debt-laden company voted against the INR 24,713 crore deal. In an exchange filing on Friday..

. Source link FRL secured votes of 85.9% shareholders in favour of the proposed INR 24,713 crore deal with Reliance.

78.22% of the unsecured creditors also voted in favour of the proposed deal. However, a majority of secured creditors voted against the deal.

As many as 69.29% of them vetoed the proposal Future Retail Ltd’s (FRL) plan to sell its assets to Reliance Industries Ltd (RIL) has failed as a majority of shareholders of the debt-laden company voted against the INR 24,713 crore deal. In an exchange filing on Friday.

.. Source link.