Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business.
Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the Long Stop Date from March 31, 2021 to September 30, 2021, said a regulatory filing by Future Retail. Pursuant to the provisions of scheme and other transaction documents executed in relation thereto, RRVL has in exercise of the right provided thereunder, extended the timeline for Long Stop Date from March 31, 2021 to September 30, 2021 which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Limited, wholly-owned subsidiary of RRVL, it said.
Reliance Retail extends deadline to complete deal with Future Group
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Reliance Future Group extends deal deadline of 24713 crore - रिलायंस-फ्यूचर ग्रुप 24,713 करोड़ के सौदे की समय सीमा बढ़ी
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Mumbai, April 1 (IANS) In the contention of creating a mega retail giant, despite several legal and arbitration battles, Reliance Retail Ventures extended the timeline for its acquisition of Future Retail.
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Update: 01-April-2021
In Contention: Reliance Retail extends deadline for Future deal
By IANS |
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Reliance Retail.. Image Source: IANS News
Mumbai, April 1 : In the contention of creating a mega retail giant, despite several legal and arbitration battles, Reliance Retail Ventures extended the timeline for its acquisition of Future Retail.
In financial parlance, the RRVL extended the long stop date for the acquisition till September 30, 2021.
Besides, the development showed Reliance Retail s confidence in clinching the deal amid the legal tussle going on with Amazon.
Notably, the previous long stop date to complete the transaction was March 31, 2021.
In a regulatory filing on Thursday, Future Retail said: Reliance Retail Ventures Limited (RRVL) has in exercise of the right provided thereunder, extended the timeline for Long Stop Date from March 31, 2021 to September 30, 2021 which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Limited, wholly owned subsidia