Billionaire Mukesh Ambani,the chairman of Reliance Industries Ltd reportedly is in final stage of acquisition talks with Future Retail led by Kishore Biyani which runs brick and mortar store like Big Bazaar,FBB etc. After the deal RIL will have controlling stake in future retail. This will mark the end of retail journey of Kishore Biyani which started this in India. They have approximately 1388 stores in India. After this deal RIL will be the undisputed leader in brick and mortar store sector in India. Future Retail is grappling with cash crunch after it defaulted on a Rs 100-crore ($14-million) repayment on its $500-million foreign currency bonds last week. Promoters have 42% stake in future retail. Let's wait for confirmation from RIL. We will update this article accordingly.
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