Reliance Industries (RIL) owned by Indian billionaire Mukesh Ambani is all set to acquire the retail chain Big Bazar owned by the Kishore Biyani-led Future Group. As per reports the process is in its final stage. t RIL is close to buying Future Group’s retail assets for Rs 24,000-27,000.
The five listed entities, including Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks, will be merged into Future Enterprises Ltd (FEL) before the sale of the assets.
Future Retail manages over 1,500 stores in India under various formats, including Big Bazaar, Fashion at Big Bazaar (FBB), ezone, and Foodhall. RIL will take over the retail, supply-chain and related businesses of Future Group which will put a full stop on the retail business of Biyani.
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