RIL is all set to acquire Future Group: Click to know

As per a report by English financial daily Mint, Reliance Industries Limited is all set to acquire Future Group’s retail assets for 24,000-27,000 crore rupees. Future Group is led by Kishore Biyani, who is the owner of popular retail chain Big Bazaar and Mukesh Ambani was eyeing the group since he planned to enter in e-commerce and retail business. However, the deal could not be cracked due to pricing issues.

Now, the Future group has decided to merge five listed entities of the group- Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks- into one entity- which will be known as ‘Future Enterprise Limited’, and this entity would be sold to RIL for around 27,000 crore rupees. 

According to report, “As part of the deal, fashion and grocery retail formats from Future Group’s listed entities such as Big Bazaar, FoodHall, Nilgiris, FBB, Central, Heritage Foods and Brand Factory, barring apparel brands Lee Cooper and All, will be acquired by RIL. In all, over 1,700 stores across formats are expected to go to RIL.”