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Reliance Retail extends deadline for Future deal by six months

The company had earlier extended the deadline for the Rs 24,713 crore deal by six months in April.

October 01, 2021 / 07:07 PM IST
Image: Shutterstock

Image: Shutterstock

 
 
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Reliance Retail, the retail arm of oil-to-telecom conglomerate Reliance Industries, has extended the deadline to complete the buyout of Kishore Biyani-led Future Group’s retail assets by six months, according to a regulatory filing.

“Reliance Retail Ventures Limited (RRVL) extended the timeline for Long Stop Date from September 30, 2021, to March 31, 2022, which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Limited, wholly owned subsidiary of RRVL," Future Retail informed in a regulatory filing on October 1.

The company had earlier extended the deadline for the Rs 24,713 crore deal by six months in April.

The Long Stop Date is an agreed-upon date by two parties to complete a transaction.