new Delhi. The retail, logistics and warehousing business of Future Group, which runs Big Bazaar's retail chain in the country, is going to buy Reliance Retail, a retail arm of Reliance Industries. On Saturday (August 29), information has been given in the stock market by Reliance Industry. According to the information given by Reliance Industry, this deal is going to be for Rs 24713 crore.
Isha Ambani, director of Reliance Relate Venture Limited, expressed happiness over the deal and said that Future Group has contributed significantly to the growth of modern retail business in modern India and the business eco system that Future Group has developed is called Reliance Retail. Will maintain.
Reliance Future deal
After this deal, Reliance has become a reckless king in India's retail business. After this deal, Future Group's retail and wholesale business will come under Reliance Retail & Fashion Lifestyle Limited (RRFLL). Explain that RRFLL is a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL). RRFLL will also invest extensively in Future Enterprises Ltd. after the merger. It will invest 1,200 crore through a preferential issue and buy a 6.09 per cent stake in Future Enterprises Limited. In addition, it will invest 400 crore in the form of equity warrants.
This post was published on August 29, 2020 10:30 pm
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