Reliance Industries extends deadline to conclude Future Group deal

Mukesh Ambani. Photographer: Simon Dawson/Bloomberg

Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd (RIL), has extended the long-stop date for completion of its 24,713 crore ($3.3 billion) deal with Kishore Biyani’s Future Group by another six months to March 2022. This comes as Future Group remains locked in a legal battle with Amazon.

Long stop refers to the timeframe in which all conditions precedent for deal are met for the transaction to conclude. The deal was originally expected to be complete by 31 March 2021.

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