Future group-reliance retail deal gets cci approval
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The Competition Commission of India (CCI) has approved Reliance Retail’s acquisition of Future Group’s retail wholesale, logistics and warehousing businesses. Reliance Industries announced
in August 2020 that its retail arm would be acquiring Future Retail by way of a slump sale for Rs 24,713 crore. With this, the deal, which is currently facing legal hurdles from Amazon, get
regulatory go-ahead. This deal would now give Reliance Retail access to 1,800 stores of Future Group’s flagship retail formats including Big Bazaar, Central, FBB, FoodHall, among others.
Reliance Retail already has around 12,000 stores across the country.