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Shares of Reliance Industries (RIL) jumped nearly 4 per cent in early trade on Monday after the Competition Commission approved the company’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group.

Mukesh Ambani’s Reliance Industries on Saturday announced the acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business. Through the deal, Reliance will acquire Future Retail that owns Big Bazaar that sells everything from groceries to cosmetics, and Future Lifestyle Fashions Ltd that operates fashion discount chain Brand Factory.

Mukesh Ambani’s Reliance Industries Ltd will pay between Rs 24,000 crore and Rs 27,000 crore ($3.2-$3.6 billion) to buy the Indian retail chains owned by Future Group, as per reports on Tuesday. Asia’s richest man, Ambani has been buoyed by investments close to $20 billion from backers including Google and Facebook and is seeking to … Continue reading ‘RIL to pay up to $3.6bn for Future Group retail ops’

Reliance Industries (RIL) has moved close to clinching a deal to buy the retail businesses of Kishore Biyani’s Future Group. ​​The move will further cement RIL’s position as the top brick-and-mortar player across categories like groceries, fashion and general merchandise, said two people briefed on the matter.

In a move that could change modern retail dynamics in India, top retail companies, including Future Group, Aditya Birla, Arvind, Raymond and Litebite Foods, are in discussion with mall owners to move into a pure revenue-share model from a fixed-rent model or a minimum guaranteed rent model for nine months starting March 1, which they … Continue reading Retailers eye revenue-share pact at malls