Mukesh Ambani's Reliance Retail acquires Future Group's businesses for Rs 24,713 crore

"Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 crore," Reliance said in a statement.According to a report, Reliance Retail will now have access to nearly 1,800 stores of Future Group's Big Bazaar, FBB, Easyday, Central, Foodhall formats.These stores are spread in over 420 cities across India.Reliance Retail director Isha Ambani said: "Pleased to provide a home to the renowned formats and brands of Future Group."

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