11-July-2020
Corporate News
 
Reliance Industries nears deal to acquire retail businesses of Future Group
30-Jun-2020

Reliance Industries (RIL) has moved close to clinching a deal to buy the retail businesses of Kishore Biyani’s Future Group. The move will further cement RIL’s position as the top brick-and-mortar player across categories like groceries, fashion and general merchandise, said two people briefed on the matter. The deal will involve at least three companies promoted by Biyani—Future Retail, Future Lifestyle Fashions and Future Supply Chain Solutions —going for a merger. The combined business will then be acquired by the Mukesh Ambani-controlled petrochemicals-to-telecom conglomerate.

News Source:- https://economictimes.indiatimes.com/news/company/corporate-trends/reliance-industries-nears-deal-to-acquire-retail-businesses-of-future-group/articleshow/76704437.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23