RIL-Future Groupdeal gets CCI nod

New Delhi, November 20 The Competition Commission of India (CCI) has approved Reliance’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The Rs 24,713-crore deal that would boost Reliance Industries’ fast-growing retail business was announced in...

Tribune News Service

Updated At : 12:16 PM Nov 21, 2020 IST

New Delhi, November 20

The Competition Commission of India (CCI) has approved Reliance’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group.

The Rs 24,713-crore deal that would boost Reliance Industries’ fast-growing retail business was announced in August.

In a tweet on Friday, the regulator said it has approved “acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”.

As per the notice submitted to the CCI, there are at least seven target entities. They are Future Enterprises, Future Consumer Ltd, Future Lifestyle Fashions Ltd, Future Retail Ltd, Future Market Networks Ltd, Future Supply Chain Solutions Ltd and Futurebazaar India Ltd and its subsidiaries. — PTI

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Suggested Articles