Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

RIL In Talks To Acquire Future Group

This development will give RIL the necessary capability to launch to number one position in retail space across classifications including fashion, general merchandise and groceries.

Photo Credit :

1490080272_KUDv1h_O2.jpg

Reliance Industries (RIL) does not seem to stop in its ambition to expand. The conglomerate is said to in conversations to close a deal with retail businesses of Kishore Biyani's Future Group. This deal would give RIL a controlling stake in the retail businesses of Future Group.

According to media reports, the arrangement will entail Biyani to give up authority over all organisations under the Future Retail bin (containing FBB, Big Bazaar, Food Hall and Central), Future Lifestyle Ltd, and Future Supply Chain Solutions.

Every one of the three entities will sync back to RIL and the joined business will be obtained by RIL. Biyani will be left with control of Future Group's FMCG business and some other littler gathering organizations.

This development will give RIL the necessary capability to launch to number one position in retail space across classifications including fashion, general merchandise and groceries.

Media report suggests the discussion between both companies is already in an advanced stage and RIL aims to seal the deal before its forthcoming AGM (Annual General Meeting on July 15.

Exchanges on the arrangement started not long ago as one of Biyani's holding elements defaulted on the credit installment.

As per a few news reports prior, Biyani, once the poster name of India's retail segment, had a few conversations with numerous other expected financial specialists also.