Future Retail has decided to merge its retail operations with rival Bharti Retail Ltd, thereby setting the road to create one of India’s biggest retail chains with more than 570 stores across the country.
Under the deal structure, approved by the boards of the two companies, the retail business of Future Retail will be merged with Bharti Retail. The combined entity will own the retail operations of both the companies.
In the second step, infrastructure, investments and assets of both the companies will be combined to create a new entity to be called Future Enterprises Ltd, the companies said in separate statements.
Future Retail operates around 350 stores under multiple formats, including Food Bazaar, Big Bazaar, e-Zone and others across the country spread over 11 million square feet of retail space. Bharti Retail currently operates a network of over 200 “easyday” stores in multiple formats across 114 cities.
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