India: Reliance's retail arm seals $3.4b deal to buy Future Group's key businesses

India: Reliance's retail arm seals $3.4b deal to buy Future Group's key businesses

Mukesh Ambani. Photographer: Simon Dawson/Bloomberg

Reliance Retail Ventures Ltd. (RRVL) will acquire Future Group’s retail, wholesale, logistics, and warehousing businesses for 24,713 crore, the Reliance Industries subsidiary said in a release. The much-awaited deal between RIL and Future Group got its go-ahead on Saturday following a board meeting of Future Enterprises Ltd (FEL).

The all-cash deal has been carried out on a slump sale basis, said a media statement by RIL.

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