NEW DELHI, Dec 23: Future Consumer Enterprise Ltd (FCEL), led by Kishore Biyani, today said a board meeting will be held later this week to consider re-alignment of the business dealing in distribution of food and FMCG products through a franchisee arrangement.
“A meeting of the Board of Directors of the company will be held on December 26, 2015 to consider and approve re-alignment of the part business undertaking of the company, concerning distribution of food and FMCG products, by way of operating through a franchisee arrangement,” Future Consumer Enterprise Ltd said in a BSE filing.
It further said the meeting will also consider the “issue of compulsorily convertible debentures on a preferential basis, issue of warrants, convertible into equity shares, to promoters and/or promoter group entities on a preferential basis and issue of non-convertible debentures on a private placement basis or otherwise.”
In August, FCEL entered into a 50:50 joint venture with Switzerland-based Mibelle AG to launch personal care products in early 2016, which will be manufactured in Switzerland.
(PTI)
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