TOKYO, Sept 24 (Bernama-AsiaNet) — Nippon Express Co., Ltd. (TSE: 9062, the “Company”), acting through its subsidiary Nippon Express (South Asia & Oceania) Pte. Ltd. has agreed to make an investment in Future Supply Chain Solutions Limited (“FSC”) (“Investment”). The Board of the Company, at its meeting held on September 20, 2019, approved the execution of a Share Subscription Agreement (“SSA”) and Shareholder Agreement (“SHA”) with FSC and a Share Purchase Agreement (“SPA”) with some FSC shareholders. FSC, listed on BSE Limited and the National Stock Exchange of India Limited, is among India’s leading logistics service providers and a part of the Future Group, India’s largest retail group.
The investment is subject to customary closing conditions and regulatory approvals.
