Reliance Retail acquires Future Group’s retail & wholesale biz
The deal, worth Rs 24,713 cr, will give Reliance Retail access to nearly 1,800 stores of Future Group, say media reports
Reliance Industries has acquired Future Group’s business for Rs 24,713 crore, according to media reports.
This deal will give Reliance Retail access to Future Group’s almost 1,800 stores that covers brands like Big Bazaar, Central and FBB.
In a company statement quoted by media reports, RIL has said: "Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 crore."
