FEL to sell its 16 pc stake to Future Lifestyle
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Homegrown retail major Future Enterprises (FEL) will be selling its 16 per
cent stake to Future Lifestyle for Rs 380 crores, they have told the BSE.
FEL owns the physical assets or the store formats and infrastructure assets
in the stores of Future Retail
Valued at around Rs 800 crores at current market prices, it generates over Rs 1,000 crores EBITDA from its real-estate and rental logistic business. FEL has over Rs 4,500 crores worth of investments and a debt of equal amount. Market analysts feel the company plans to monetize all its investments over the years.