Friday, July 11, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Reliance Retail acquires Future Group’s businesses

Fiinews by Fiinews
August 30, 2020
in Investment
Reading Time: 2 mins read
A A
0
Future Group
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Invests Rs.1,200 crore in equity shares

Reliance Retail Ventures Limited (RRVL is acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of Rs.24,713 crore, subject to adjustments as set out in the composite scheme of arrangement (Scheme).

The above acquisition is being done as part of the Scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL).

As a part of the same Scheme:

(i) the Retail & Wholesale Undertaking is being transferred to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a wholly-owned subsidiary of RRVL;

(ii) the Logistics & Warehousing Undertaking is being transferred to RRVL; and

(iii) RRFLL also proposes to invest:

(a) Rs.1,200 crore in the preferential issue of equity shares of FEL to acquire 6.09% of post-merger equity; and

(b) Rs.400 crore in a preferential issue of equity warrants which, upon conversion and payment of balance 75% of the issue price, will result in RRFLL acquiring further 7.05% of FEL.

RRVL Director Isha Ambani said, “With this transaction, we are pleased to provide a home to the renowned formats and brands of Future Group as well as preserve its business ecosystem, which has played an important role in the evolution of modern retail in India.

“We hope to continue the growth momentum of the retail industry with our unique model of active collaboration with small merchants and kiranas as well as large consumer brands. We are committed to continue providing value to our consumers across the country.”

The acquisition of the retail, wholesale and supply chain business of the Future Group complements and makes a strong strategic fit into Reliance’s retail business.

This will help Reliance retail to accelerate providing support to millions of small merchants in increasing their competitiveness and enhance their income during these challenging times.

Future Group’s portfolio composition in apparel, general merchandise and own FMCG brands will allow for a wider offering to its customers.

This acquisition is subject to SEBI, CCI, NCLT, shareholders, creditors and other requisite approvals. #retail #brands #investment #acquisition /fiinews.com

Tags: Reliance Retail Ventures Ltd
ShareTweetShare

Related Posts

IVCA
Investment

Invest: India requires $150-$200bn for renewables

by Fiinews
July 10, 2025
0
25

Mumbai to host Renewable Energy Summit 2025 India will require another US$150-US$200 billion investments for renewables over the next five...

Veeda Lifesciences Logo
Investment

Invest: Veeda to leverage Mango AI capabilities

by Fiinews
July 9, 2025
0
12

Dr Misra integrating LLM-GenAI into Querent™ for efficiencies Veeda Lifesciences, a global contract research organization (CRO) from Ahmedabad, is investing...

IPA

Invest: Serendipity Space raises pre-seed round

July 5, 2025
17
Indian Steel Association

Invest: India needs $200bn for expansion of mills

July 4, 2025
19
PIB

Invest: PSBs told to strengthen credit to MSMEs

June 29, 2025
17
PIB

Invest: Minister wants further development of IFSCS

June 28, 2025
21
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Japanese delegation inspects DMIC progress
  • Project: Mindset change is critical for innovation
  • Project: 4,000% in installed solar capacity
  • Project: EV policies part of climate goals
  • Tech: ansrsource-ANSR reshape talent across India

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.