The Committee of Creditors (CoC) to Future Retail (FRL) have extended the voting period for the third time to decide the winning bidder to acquire the debt-laden company. The timeline has now been extended till...
Future Retail: NCLT extends deadline till September 15 for completing insolvency process
The National Company Law Tribunal (NCLT) has extended the deadline to September 15 for completion of the insolvency resolution process of debt-ridden Future Retail Ltd (FRL). The decision came on an application moved by...
UK discount retailer Poundland to buy up to 71 Wilko stores
British discount retailer Poundland said it would buy up to 71 Wilko stores and convert the collapsed homeware and household goods chain’s sites into its own brand. Poundland, which is owned by Warsaw-listed...
KKR to invest ₹2,069 cr in Reliance Retail, raise stake to 1.42%
Global investment firm KKR is set to raise its stake in Reliance Retail Ventures Ltd (RRVL) from 1.17% to 1.42% by infusing ₹2,069 crore through an affiliate. In 2020, KKR had invested ₹5,550 crore for the first time in...
UK’s Motor Fuel Group in $2.5 billion fuel stations deal talks with Morrisons
UK’s Motor Fuel Group (MFG) is in talks with supermarket chain Morrisons for 340 fuel retail forecourts in a deal that could be worth about 2 billion pounds ($2.49 billion), the petrol stations giant said. The...
Reliance Retail acquires majority stake in Alia Bhatt’s clothing brand Ed-a-Mamma
Reliance Retail Ventures Ltd. (RRVL) has signed a joint venture with Alia Bhatt’s clothing brand of kids and maternity wear, Ed-a-Mamma for a 51% majority stake. ET was the first to report on July 17 on the possible...
Dubai ruler investment vehicle weighs sale of 25% stake in fashion retailer Azadea
Dubai Holding, the investment vehicle of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, is weighing the sale of its minority stake in Azadea Group, which operates Inditex franchises in the Middle East...
LVMH’s Thelios acquires French eyewear brand Vuarnet
French luxury house LVMH’s eyewear Thelios unit said on Tuesday it had acquired French high-end sunglass brand Vuarnet from NEO Investment Partners, without disclosing any financial details. The deal is the first...
Vote on Space Mantra’s Future Retail bid likely soon
Lenders to the debt-laden Future Retail (FRL) have put to vote the sole plan to take over the company by Space Mantra, promoted by former NBCC chairman Anoop Kumar Mittal, even as they are uncomfortable with the poor...
RIL may sell 8-10% more in Rel Retail ventures to fund expansion
Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate’s retail business...
Future Group companies moves to Delhi HC against a debt recovery tribunal order
The Future Group companies moved the Delhi High Court against a debt recovery tribunal’s July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by...
Titan Co acquires another 27.18% stake in CaratLane for ₹4,621 crore
Watch and jewellery retailer Titan Company Ltd. has increased its shareholding in CaratLane Trading Private Ltd. to 98.28% from 71.09%, paying ₹4,621 crore for the additional stake buy, the company said in a filing to...
