Business

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 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

Source From : Tribune India

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