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Future Group Buys Bharti Retail To Create Largest Retailer In India

May 5, 2015: 12:00 AM EST
Future Group agreed to acquire Bharti Retail in an all-stock deal. Valued at Rs 500 crore, the equity deal will give entrepreneur Rajan Bharti Mittal a 9 percent stake and a board seat in the BSE-listed Future Retail and the same stake in the future Biyani firm. Bharti Enterprises will receive Rs 250 crore in milestone-determined convertible debentures. Considered the largest consolidation deal in India's retail market, the merger will create a company likely to be larger than Reliance Retail.
"Kishore Biyani's Future group acquires Bharti Retail in an all-stock deal valued at Rs 500 crore", Economic Times, May 05, 2015, © Times Internet Limited
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