What will happen to big bazaar
Reliance Calls Off ₹ 24,700 Crore Retail Deal With Future Group
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Following secured creditors – primarily banks and financial institutions – of several listed entities of Future Group rejection of the sale worth Rs 24,713 crore, the deal cannot be implemented, said Reliance Industries Ltd (RIL) in a regulatory filing on Saturday.
In August 2020, Future Group announced the ₹
24,713-crore deal to sell 19 companies operating in retail, wholesale,
logistics and warehousing segments to Reliance Retail Ventures Ltd
(RRVL)
On
Saturday, in a filing with stock exchanges, RIL said, the scheme of
arrangement for the transfer of retail & wholesale business and the
logistics and warehousing business of Future Group to Reliance Retail
Ventures Limited (RRVL), a subsidiary of the Company and Reliance Retail
and Fashion Lifestyle Limited (RRFLL), a wholly-owned subsidiary of
RRVL, cannot be implemented.
https://indianexpress.com/article/explained/exp...
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Now what will happen to big bazar?
Reliance has called off an official deal to acquire Future Retail but I think they will keep acquiring stores for failure of lease payments
Jeff baba ki chaddi mein jab tak koi bomb nahi fodega, tab tak to Future Retail ko bankrupt hone se nahi bachaya ja sakta
i think it is preplanned move by ril.
now reliance will acquire future through ibc @ much lesser price and Amazon can’t able to object to this sale in ibc.
They mainly wanted the real estate. That is already 80% achieved.
bohemian wrote:
Na khud liya na amazon ko lene Diya…bechara future retail
panchabhut wrote:They mainly wanted the real estate. That is already 80% achieved.
If the deal is cancelled then they will have to vacate that
Bk100 wrote:i think it is preplanned move by ril.
now reliance will acquire future through ibc @ much lesser price and Amazon can’t able to object to this sale in ibc.
Possible but how will the secured creditors (banks) who have rejected the offer now will accept the offer later.
mere ko chakkar aa raha hai
…reliance philosophy…
…select any sector to trade and destroy the biggest player….by hook or by crook…
…In this fiasco….Future group , amazon and Reliance….all lied and all tried to get the biggest profit..
…in the end….amazon got nothing but hatred from jingoistic nationalists.
..future group never had any future….they deserve it all…
..Mota bhai got thousands of future group spaces with rent agreements …arranged contracts with vendors….contractual labour etc….so in short clear winner….
…hope next company to sit in the lap of reliance plays his card well or else…..swaha….
Ab mera 1000rs Physical Big Bazaar Voucher ka kya hoga? Kaha pe redeem karu? 😂
desiman wrote:What will happen to big bazaar
khatm. Literally khatm
Future retail took over Hypercity and closed them. It was such a nice store. now they are themselves done. Karma
Bk100 wrote:i think it is preplanned move by ril.
now reliance will acquire future through ibc @ much lesser price and Amazon can’t able to object to this sale in ibc.
Possible.
RIL first fought with AZ so AZ cant get a foothold in Indian retail space.
Then RIL structured the deal in a way that smoked secured creditors. That’s why they have voted against it.
RIL has done it before. Their deal with RCOM fell through in 2017 because once again secured lenders were to be killed.
For now, bankruptcy is reasonably certain for Future.
Point is, AZ can still back an Indian co and proxy bid using them to acquire Future post-bankruptcy, we’ll see.
@still_guessing : Spot on. I don’t need to outrun the bear. I just need to outrun you – said the friend in Aesop’s fables.
bftb wrote:Possible.
They first fought with AZ so that they cant get a foothold in Indian retail space.
Then they structured the deal in a way that smoked secured creditors. That’s why they voted against it.
RIL has done it before. Their deal with RCOM fell through in 2017 because once again secured lenders were to be killed.
Point is AZ can still back an Indian co and proxy bid using them to acquire Future, we’ll see.
@still_guessing : Spot on. I don’t need to outrun the bear. I just need to outrun you – said the friend in Aesop’s fables.
In ibc winning bid going to be less than 24000 crore for sure.
Tejaa wrote:Ab mera 1000rs Physical Big Bazaar Voucher ka kya hoga? Kaha pe redeem karu? 😂
My condolences
…think you donated for a bigger cause…
