Mukesh Ambani's RIL closing in on deal to buy Future Group's retail business
4 years, 4 months ago

Mukesh Ambani's RIL closing in on deal to buy Future Group's retail business

India Today  

Mukesh Ambani’s Reliance Industries Limited is closing in on a deal to buy Kishore Biyani-owned Future Group’s retail business. According to a report published in livemint.com, RIL is likely to buy Future Group’s retail assets for a sum ranging from Rs 24,000-27,000 crore. It may be noted that as part of the deal, fashion and grocery retail formats of Future Group’s listed entities including Big Bazaar, FoodHall, FBB, Brand Factory and many more will be acquired by RIL. While the deal paves the way for Reliance to become the biggest retail chain in India, it also comes at a time when Biyani’s Future Group has accumulated heavy debt.

History of this topic

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