Debt-ridden Future Retail Ltd has released a provisional list of eligible prospective resolution applicants, which have submitted their expression of interest to submit a resolution plan. Reliance Retail, WHSmith Travel...
Australia’s Viva Energy spends $777 mln on convenience store deal
Australian fuel supplier Viva Energy Group Ltd shares shot to a record high on Wednesday after it said it would pay A$1.15 billion ($777 million) for a convenience store chain, as a strong start to 2023 for corporate...
Vietnam’s Vincom Retail in stake sale talks with strategic investors – sources
Vietnam’s largest conglomerate, Vingroup, is in discussions to sell a stake in its shopping mall arm as it seeks to bring in strategic investors, five sources told Reuters on Wednesday. Vincom Retail...
UK’s Next buys troubled retailer Cath Kidston for $10.5 mln
British clothing retailer Next Plc said on Tuesday it has bought struggling retailer Cath Kidston from its administrators for 8.5 million pounds ($10.49 million). The cathkidston.com domain will be licenced back to the...
Ritchie Bros completes $7 billion IAA acquisition
Canada’s Ritchie Bros Auctioneers Inc said on Monday it had completed the acquisition of U.S. auto retailer IAA Inc, weeks after two proxy advisory firms urged shareholders to reject the $7 billion deal. The...
Reliance Retail gets CCI nod to acquire Metro Cash and Carry
Competition watchdog Competition Commission of India (CCI) approved the acquisition of Metro Cash and Carry by Reliance Retail Ventures, said an official press release. Through the proposed acquisition, Reliance Retail...
CCI clears Reliance’s $344 million buy of Metro’s local business
India’s competition regulator said on Tuesday that it has cleared Reliance Industries Ltd’s 28.50 billion rupees ($346.16 million) acquisition of the Indian business of German retailer Metro AG. The deal...
French retailer Casino selling down stake in Brazil’s Assai
Casino launched a sale of shares in Brazilian supermarket chain Assai as the French supermarket operator presses on with cutting its debt. Casino said it would be selling 12.9% of Assai’s share capital...
NCLT allows insolvency plea against Future Enterprises
A Mumbai bankruptcy court acted on a petition by a trade creditor and began corporate insolvency proceedings against Future Enterprises (FEL). The National Company Law Tribunal (NCLT) has appointed Jitendra Kothari as...
Marico, RP differ over FRL insolvency
Consumer products company Marico moved the National Company Law Tribunal (NCLT) seeking its intervention in admitting its claims as part of Future Retail’s corporate insolvency resolution process. Rishabh Jaisani, the...
Future Retail RP to move court against promoters
The resolution professional managing the insolvency of Kishore Biyani’s flagship Future Retail Ltd will petition the National Company Law Tribunal (NCLT), alleging lack of cooperation from the company’s promoters and...
Britain’s Tesco buys Paperchase stationery brand
Britain’s biggest supermarket group Tesco said it had purchased the Paperchase brand and related intellectual property after the stationery and gifts retailer fell into administration. Tesco will not, however, be...
