SSG Capital Agrees to Sell Stake in FSC to Nippon Express for USD55 Million

Source(s): Bombay Stock Exchange, VCCircle | Date: 20 September 2019 | Author(s): Ankit Doshi

Asia-focused private credit fund manager SSG Capital has agreed to sell a 14.6 percent stake in Future Supply Chain Solutions (FSC), the logistics subsidiary of India-listed conglomerate Future Group, to Japan-based logistics company Nippon Express for INR3.9 billion (approximately USD55 million). Through the transaction, Nippon will also acquire an additional 8.6 percent stake in FSC through the purchase of primary shares in the company from Future Group for INR2.5 billion (USD35 million). SSG first acquired a stake in FSC in 2014.