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Hong Kong's Li & Fung shares the major shareholder of India FLSL Logistics
Indian logistics provider Future Group sent a notice yesterday to the CBN said its consumer market for India's supply chain and logistics solutions for the Future Logistic Solutions Limited (FLSL) has with the Hong Kong Li & Fung (00494.HK) controlling shareholder Fung brothers family held by Fung Capital private equity fund in order to reach an injection of private equity fund, the investment agreements. Under the agreement, Fung Capital will inject 30 million U.S. dollars (about 234 million Hong Kong dollars) to FLSL, in order to enhance its logistics building, strengthen the technology platform and expand supply chain network. Fung Capital said in a public notice, the Department of the investment the controlling shareholder of Li & Fung Group Victor Fung and his family to hold private equity fund, and Li & Fung Group, all companies do not have any relationship. The deal, if successful, it will be Fung Capital's first investment in India, but also marks the largest logistics operator in Hong Kong Li & Fung Group, to the Indian capital market and logistics industry has taken an important step. Fung Capital Fund, the Managing Director Ranavat that the strong growth in India's modern retail sector, will drive the market for an integrated national logistics service provider needs, and FLSL the only one in India to provide end-consumer products logistics services company, has a fashion , food, household goods and general stores such as the types of consumer goods supply chain management professionals. Li & Fung shares the same day with the big city, up 3.394% to 22.85 Hong Kong dollars, 611.34 million shares traded, involving capital 137.4 million Hong Kong dollars.
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