Ambani’s Reliance buys stake in Future Group for Rs 24,713 cr
New Delhi, August 29
Billionaire Mukesh Ambani’s Reliance Industries Ltd on Saturday announced the acquisition of Future Group businesses for Rs 24,713 crore to add to its fast expanding retail business and bolster e-commerce to take on the competition from Amazon.com.
“Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 crore,” the company said in a statement. — PTI
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access.
Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Already a Member? Sign In Now
