Reliance to Buy Stake in Kishore Biyani's "Future Group" Big-Bazaar and Lifestyle for Rs 24,713 cr
New Delhi, Aug. 30 -- Another Day, Another Deal . Mukesh Ambani's Reliance Industries on Saturday announced the acquisition of businesses of Kishore Biyani's Future Group for Rs.24,713 crores. It will add it to the fast-expanding retail business and bolster e-commerce. This puts Walmart-owned Flipkart and Jeff Bezos' Amazon in a great fix in the Indian Market.
With this deal, the Reliance group will have access to 1,800 stores across Future Group's 5 formats. This includes Big Bazaar, FBB, Easyday, Central, Foodhall formats, which are there in over 420 cities in India. This acquisition is a part of the scheme of Future Group to merge certain companies in FEL. (Future Enterprise Ltd.) Further, it will transfer all its logistics and wareho...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.