Reliance buys Future Group, almost doubles retail footprint with acquisition

Reliance Industries Ltd's acquisition of debt-strapped Future Group will almost double the footprint of its retail business, which now is valued at up to USD 68 billion, analysts said.
The oil-to-telecom conglomerate on Saturday announced the acquisition of Future's retail, wholesale, logistics and warehousing units for Rs 24,713 crore. The deal terms entail a merger of five listed units of Future Group into Future Enterprises Ltd (FEL).