India: Ambani's Reliance buys Future Group for Rs 24,713 cr
New Delhi, Aug 29 (PTI) Billionaire Mukesh Ambani's Reliance Industries on Saturday announced acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business.
"Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries, will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of Rs 24,713 crore," the company said in a statement.