Warburg Pincus To Acquire Controlling Stake In Future Capital For $100M

Warburg Pincus LLC announced its plans to acquire a controlling stake in India's Future Capital Holdings for around $100 million. Future Capital will initially purchase a 53.7% holding from Pantaloon Retail. The deal at 162 rupees per share represents an 18% premium to Future's closing price on Friday. Future Capital's net profit climbed 115% to 1.06 billion rupees for the fiscal year ended March.