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Future Group to be acquired by Reliance

Future-Group-to-be-acquired-by-Reliance

Posted: 02/09/2020

Future Group to be acquired by Reliance

Why agreement is in News ?

Reliance Retail Ventures Limited (RRVL) has announced that it is acquiring the retail, wholesale business, logistics and warehouse business of Future Group for Rs 24,713 crore.

The acquisition is a part of Future Group's decision of merging certain companies and carrying on the businesses into Future Enterprises Limited (FEL).

Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited.

What is future group?

Future Group is an Indian conglomerate company founded by Kishore Biyani, headquartered in Mumbai, Maharashtra, India.

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