Reliance will buy Big Bazaar & entire Future group to become India's #1 retail company!

Mukesh Ambani's Reliance company have some big targets to achieve, pandemic can also not stop the business tycoon.

credit : India Tv

Mukesh Ambani's Reliance Industries Ltd (RIL) is in talks of attaining Kishore Biyani's Future Group.

This would help the former expand its reach in the retail space across categories like fashion, general merchandise and groceries.

RIL To Acquire Future Group

The deal between RIL and Future Group are reportedly at its final stage.

As per the deal, Mukesh Ambani's RIL will have a controlling stake in the retail businesses of Kishore Biyani's Future Group.

All the control from the Future retail basket, including FBB, Big Bazaar, Food Hall and Central, along with Future Lifestyle Ltd, and Future supply Chain Solutions will be handed over to Reliance.

These three entities will be merged into one.

Speaking of Biyani, he will be left over with control of Future Group's FMCG business and some other smaller group companies.

Final Touch-ups in the Deal

This deal and acquisition will prove to be a big deal for Reliance Industries.

As mentioned, the deal between the two companies is in its advanced stage and RIL wants to sign the final deal before the upcoming Annual General Meeting, to be scheduled on July 15.

Despite the deal almost coming to a close, both the companies are still deliberating on the finer points of the deal.

RIL Wasn't Biyani's 1st  Choice

Negotiations between Future Group and RIL began earlier this year, as one of Biyani's holding entities defaulted on the loan payment.

In order to help its loan repayment, once the poster boy of India's retail sector Biyani, went up and held several discussions with many other potential investors, before finalizing the deal with RIL.

"It is likely to be a complex transaction as, first, Future Group will announce a scheme of arrangement to merge into one company. RIL is most likely to completely buy out this combined entity in exchange for it's shares", mentioned a source.

Future Retail holds over 1,500 retails stores across several sectors. It also holds brands like :

credit : Fbb

• Big Bazaar,
• Ezone,
• Foodhall,
• Fashion at Big Bazaar,
• Nilgris,
• Easyday and
• 300 stores under brands like Central and Brand Factory.

credit : Big Bazaar

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