Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group
NEW DELHI: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business. Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the “Long Stop Date” from March 31, 2021 […]
Supreme Court halts Future Group’s $3.4 billion deal on Amazon plea
By Upmanyu Trivedi NEW DELHI: India’s Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce […]
Deal with RIL in line with Indian laws, not party to agreement with Amazon: Future
NEW DELHI: After a Singapore arbitration court ordered a temporary stay on Reliance Retail’s acquisition of the debt laden Future Group’s retail business, the latter has said that the deal with Reliance Retail is in consonance with Indian laws. It further said that it is not a party to the agreement under which Amazon has […]
Future-RIL deal: Amazon gets a favourable ruling in arbitration case
NEW DELHI: Jeff Bezos-led Amazon has won a favourable ruling for its plea in Singapore against Kishore Biyani-headed Future Group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). Future has been told not to proceed with its sale of shares to RIL till the outcome of the arbitration process, according to the sources. […]
Amazon takes on Future group over deal with Reliance Retail
NEW DELHI: In a major turn of events in the buyout of the businesses of the debt laden Future Group by Reliance Retail, e-commerce giant Amazon.com, Inc has stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. “We have initiated […]
Reliance Industries buys Future Group for Rs 24,713 crore
NEW DELHI: Mukesh Ambani’s Reliance Industries Ltd on Saturday announced the acquisition of businesses of Kishore Biyani’s Future Group for Rs 24,713 crore to add to its fast expanding retail business and bolster e-commerce to take on the competition from Jeff Bezos’ Amazon. “Reliance Retail Ventures Limited (RRVL), subsidiary of Reliance Industries Limited, today announced […]