Arisaig Partners, a Singapore based investment management company has hiked its stake in the debt-ridden Future Group flagship retail firm Pantaloons by an extra 2.38%. With this their holding in the retail firm has increased to 6.88%. Arisaig Partners (Asia) Pte Ltd. has acquired 5,125,865 shares, corresponding to 2.38 % stake in the company. This latest transaction was worth a whopping INR 767.4 mn.
Heavily in debt, Future Group is in the process of divesting its stake in its non-core businesses.
Source: Zee News