Future Retail gets SEBI’s nod on RIL’s acquisition of Future Group’s retail assets

21 Jan 2021 Evaluate

Future Retail has received Securities and Exchange Board of India’s (Sebi) approval on Reliance Industries’ (RIL) subsidiary -- Reliance Retail Ventures’ (RRVL) acquisition of Future Group’s retail assets. The market regulator gave its nod to the deal and noted that company shall ensure that the shares of the transferee entity issued in lieu of the locked-in shares of the transferor entities is subjected to lock-in for the remaining period post scheme.

Earlier, Reliance Industries’ (RIL) subsidiary -- Reliance Retail Ventures (RRVL) was eyeing acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of Rs 24,713 crore, subject to adjustments as set-out in the composite scheme of arrangement (Scheme).

Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court.

Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.

Future Retail Share Price

2.41 0.00 (0.00%)
01-Aug-2024 16:01 View Price Chart
Peers
Company Name CMP
Avenue Supermarts 3408.50
Aditya Birla Fashion 282.25
Trent 6829.00
Vishal Mega Mart 101.11
Electronics Mart Ind 170.05
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