As per information collected from stock exchanges, Reliance Retail Ventures Limited (RRVL), subsidiary of Reliance Industries Limited, is acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for aggregate consideration of INR 24,713 crore. Scheme of the deal 1. The Retail & Wholesale Undertaking is being transferred to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a wholly-owned subsidiary of RRVL. 2. The Logistics & Warehousing Undertaking is being transferred to RRVL 3. RRFLL will also invest: (a) INR 1,200 crore in the preferential issue of equity shares of FEL to acquire 6.09 % of post-merger equity. (b) INR 400 crore in a preferential issue of equity warrants which, upon conversion and payment of balance 75% of the issue price, will result in RRFLL acquiring further 7.05% of FEL. Benefit to Reliance The acquisition of the future Group complements and makes a strong strategic fit into Reliance’s retail business. This acquisition is subject to SEBI, CCI, NCLT, shareholders, creditors and other requisite approvals.