Ril complete buy to september Sets the goal.
Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the deadline by six months to complete its Rs 13 24,713 crore deal with Kishore Biyani-led Future Group to buy its retail and wholesale business.
Reliance Retail Ventures Limited (RRVL) has extended the ‘Long Stop Date’ from 31 March to 30 September.
“RRVL has … extended the ‘Long Stop Date’ period from March 31, 2021 to September 30, 2021, duly accepted by Reliance Retail & Fashion Lifestyle Limited, a wholly owned subsidiary of RRVL.”
The deal fought by Amazon faces legal hurdles and a Supreme Court decision is pending on a petition filed by the e-commerce chief.
The Future-Reliance deal, announced on August 29, 2020, has already received approval from CCI, SEBI and borrowers, and the scheme of arrangement is now awaiting approval from NCLT and shareholders.
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