InvestorQ : What is the latest status on the Reliance acquisition of Future Group? I suppose that has been confirmed now?
Katherine Gonsalves made post

What is the latest status on the Reliance acquisition of Future Group? I suppose that has been confirmed now?

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Rutuja Nigam answered.
3 months ago
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As of now there is no confirmation from RIL or from Future group. However, it is reported that Reliance will pay Rs.27,000 crore to take a controlling stake in Future Group. Reliance is flush with funds after having monetized 33% stake in Jio Platforms for $20 billion. The five entities of Future group are likely to be merged into Future Enterprises before the deal.

It is a win-win for both. If the deal is through, Reliance adds 12,000 stores across 6700 Indian towns including a robust cash-and-carry business. Future group already owns marquee brands like Big Bazaar, Foodhall and Brand Factory. This becomes a major brick-and-mortar extension for Jio Mart. Future gets out of its debt mess quickly.

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