Future Retail has executed the SPA with sellers and Hypercity Retail (India) (HRIL) on October 8, 2017 for acquisition of the entire share capital of HRIL. The proposed transaction remains subject to receipt of approval of shareholders of the company and receipt of requisite regulatory and other approvals.
Earlier, the company had received an approval for the acquisition of entire equity share capital of 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 had 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.
| Company Name | CMP |
|---|---|
| Avenue Supermarts | 4385.85 |
| Trent | 4183.55 |
| Vishal Mega Mart | 122.00 |
| Aditya Birla Lifesty | 107.55 |
| PN Gadgil Jewellers | 663.45 |
| View more.. | |
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