As per the latest media reports, Mukesh Ambani led Reliance Industries is all set to acquire the retail businesses of Kishore Biyani’s Future Group. After this possible acquisition, RIL’s positioning will further solidify in the brick and mortar retail in the categories including fashion, groceries amongst others.
As the media reports indicated, three companies including Future Lifestyle Fashions and Future Supply Chain Solutions will be the part of possible merger. The combined business will then be acquired by the Mukesh Ambani-controlled petrochemicals-to-telecom conglomerate.
Going with the media reports, the discussions for this merger is now at advanced stage and deal could be closed before 15th July.
Biyani who is also known as the father of modern retail also had held a similar discussion with US-based Amazon but the deal could not materialise.