The approval of the Competition Commission of India (CCI) will expedite Reliance Industries’ proposed Rs 24,713 crore acquisition of retail, wholesale, logistics, and warehousing businesses of Future Group as the pending SEBI and National Company Law Tribunal (NCLT) approvals are customary.
Both parties to the deal have started the procedures to get approvals from lenders, suppliers, and shareholders as it will culminate in clearance from the NCLT. The market regulator’s approval will be largely required for the merger of Future’s listed companies.
Reliance earlier stated that Reliance Retail Ventures (RRVL), the holding company of its retail businesses, intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay. Read more…..
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