Aditya Birla Nuvo has received Competition Commission of India’s (CCI) approval to takeover Future group’s Pantaloon brand. Aditya Birla Nuvo, through its subsidiary, has proposed to acquire a majority of Pantaloon format business from Kishore Biyani-led Future group.
As a part of the deal between the two companies, the Pantaloon format would be demerged from Pantaloon Retail India (PRIL).
Earlier in August, CCI had termed as invalid an application seeking nod for this takeover deal as the final deal was yet to be approved by the boards of the concerned companies at that time.
Aditya Birla Nuvo operates in areas like financial services, telecom, fashion and lifestyle, IT and ITES, agri products, yarn and textile manufacturing.
