Reliance to buy Future Group's retail arm for US$3.38 billion

Mukesh Ambani-led Reliance Industries said on Saturday it has agreed to acquire the retail and wholesale business and the logistics and warehousing business of Future Group in a deal valued at US$3.38 billion, including debt.

FILE PHOTO: The logo of Reliance Industries is pictured in a stall at the Vibrant Gujarat Global Trade Show at Gandhinagar, India, January 17, 2019. REUTERS/Amit DaveNEW DELHI: Mukesh Ambani-led Reliance Industries said on Saturday it has agreed to acquire the retail and wholesale business and the logistics and warehousing business of Future Group in a deal valued at US$3.38 billion, including debt.

Like many other store chain owners, Future Group's business has been hit by a slowing economy and the impact of the coronavirus pandemic.

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