This could be the mother of all retail deals in a while
AdvertisementThe Big Bs of Indian retail market, Bharti Retail and Kishori Biyani are teaming together reveals an The Economic Times report. It states that Bharti Retail and Kishore Biyani-led
The plan involves the larger Future Group absorbing Bharti Retail in a largely stock deal. After this, the promoters of Bharti Retail — brothers Sunil, Rakesh and Rajan Mittal — are expected to get a minority stake in the combined entity or in one of the Biyani-promoted entities that controls his businesses.. The swap ratio and other key details are yet to be worked out, they said. One of them said due diligence is expected to be completed by end-May.
In the past three years, Biyani has streamlined his retail empire into three separately listed entities — Future Retail Ltd,
Future Consumer also owns food parks and more than three dozen
This move highlights promoters’ willingness to take bold, strategic steps at a time when the profitability of large retail chains across the country continues to remain under pressure due to higher overhead expenses such as rentals and low product margins.
Bharti Retail, a wholly-owned subsidiary of
(Image: India Times)
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