Future Retail to merge with Bharti Retail

Kishore Biyani led Future Retail is all set to merge its retail operations with Bharti Retail to create one of India's biggest chain with more than 570 stores all around the nation.
Future Retail to merge with Bharti Retail
Kishore Biyani led Future Retail is all set to merge its retail operations with Bharti Retail to create one of India's biggest chain with more than 570 stores all around the nation.
 
As per theindustry insiders, the retail business of Future Retail will be demerged into Bharti Retail. Meanwhile, the retail infrastructure business of Bharti Retail will be demerged into Future Retail. 
 
Besides, the deal will result in two-listed companies which will operate in front-end & back-end operations. The front-end retail operation is proposed to be known as Future Retail while the second entity is proposed as Future Enterprises. It will host the infrastructure, investments and assets of both the companies. 
 
Future Group operates over 17 million square feof retail space in different formats and categories across 166 Indian cities. 
 
Bharti Retail operates a network of over 200 'easyday' stores in multiple formats across 114 cities with presence in key markets like Punjab, Haryana, National Capital Region, Western Uttar Pradesh, Uttarakhand and Bangalore. 
 
The combined entity will have over 570 retail stores in 243 cities with operational retail space of over 18.5 million square feet. It will operate 203 Big Bazaar and 'easyday' hypermarkets, 197 Food Bazaar and 'easyday' supermarkets, and 171 other stores comprising of Home Town, eZone, FBB and Foodhall. 
 
Bharti Retail will issue 1 fully paid-up equity share of Rs 2/- each, for every one fully paid-up equity share held in Future Retail. Meanwhile, Future Retail will issue 1 fully paid-up equity shares of Rs 2 each, for every one fully paid-up equity share held in Bharti Retail. 
 
"Bharti Retail's strengths and network compliment perfectly with that of Future Retail. It will bring us closer to millions of consumers and provide new opportunities for our supply partners. The operational efficiencies that can be derived from the merger will create significant value for our shareholders," said Kishore Biyani, Founder and Group CEO, Future Group. 
 
Bharti Group will hold about 10 per cent stake in both listed companies formed. 
Publish Date
Not Sponsored
Live: People Reading Now
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU