Reliance procures Kishore Biyani Future retail
- Reliance Retail Ventures Limited (RRVL) is going to acquire Kishore Biyani’s Future retail for Rs 24,713 crore. At the 1st Phase of acquisition, the Company will merge five (5) Future Group’s listed objects including Future Retail, Future Lifestyle and Future Consumer – into Future Enterprises (FEL).
- Reliance Retail and Fashion Lifestyle Limited (RRFLL) will plan to buy the retail, then, wholesale business, logistics and warehouse business from Future Enterprises.
- The procurement is about to SEBI, CCI, NCLT, shareholders, creditors, and other requisite approvals.