We are pleased to share that Khaitan & Co has assisted and advised Reliance Retail Ventures Limited along with its wholly owned subsidiary (Reliance Retail and Fashion Lifestyle Limited) in acquiring the entire retail & wholesale and logistics and warehousing business of the Future Group under a court approved scheme.
The transaction will be undertaken by way of a composite court approved scheme which will provide for
reorganisation of Future group companies by way of merger of various Future group companies (such as Future Retail Limited, Future Consumers Limited, Future Supply Chain Solutions Limited Future Lifestyle Fashion Limited, Future Brands Limited and Future Market Network Limited) into Future Enterprises Limited;
slump sale of retail and wholesale business of Future Group by Future Enterprises Limited to Reliance Retail and Fashion Lifestyle Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited;
sale of logistics and warehousing business of Future Group by Future Enterprises Limited to Reliance Retail Ventures Limited; and
investment of INR 1200 crore by Reliance Retail and Fashion Lifestyle Limited to acquire equity shares of FEL and INR 400 crore to acquire warrants convertible into equity shares of FEL.
The team was led by Haigreve Khaitan (Partner), Mehul Shah (Partner), Vivek Sriram (Partner), along with assistance from Rajeev Vidhani (Partner), Harsh Parikh (Partner), Shailendra Bhandare, Anisha Chand (Partner) and Rusha Mitra (Partner) and their teams.
About Khaitan & Co
Founded in 1911, Khaitan & Co is one of the oldest and largest Indian law firms in India.
Built on foundations of integrity, simplicity, dedication and professionalism, the Firm has expanded its presence in India from Kolkata (1911) to New Delhi (1970) to Bangalore (1994) to Mumbai (2001). The Firm takes pride in its steady growth and celebrated its centenary year in 2011 (11 November 2011). The Firm has a strength of over 700 fee earners including 160 partners and directors in its 4 offices.
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