India’s Reliance to pay up to $3.6 billion for Future Group retail operations

India’s Reliance to pay up to $3.6 billion for Future Group retail operations

Reliance Industries Ltd will pay between $3.2-$3.6 billion to buy the Indian retail chains owned by Future Group, as per a Mint newspaper report. Ratings agency ICRA estimates that total debt at Future Group’s listed companies was 127.78 billion rupees by September last year and the company has since faced widespread closures under coronavirus lockdowns.

Sandra
Sandra
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