Reliance Retail Venture Limited (RRVL), a subsidiary of Reliance Industries Limited (RIL), on Saturday announced the acquisition of Future Group (Future Group) retail and wholesale business and logistics and warehousing business. In a statement issued by Reliance Retail, it was said that this deal will be in one time for Rs 24,713 crore. As part of this acquisition plan, Future Group is merging some of its companies with Future Enterprises Ltd (FEL).
The company said that under this scheme the retail and wholesale business of Future Group will be transferred to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a subsidiary of RRVL.
