Future Retail has received an approval for the acquisition of entire equity share capital of Hypercity Retail (India) (HRIL) from its existing shareholders for part cash and part share consideration aggregating up to Rs 655 crore and also approved the execution of a Term Sheet in this connection. The board of directors at its meeting held on October 5, 2017 has approved for the same.
Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.
