The competition regulator on Friday approved the acquisition of Future Group’s retail, wholesale, warehousing logistics business by Reliance Retail Ventures Ltd (RRVL).
The Rs 24,713-crore acquisition has faced stiff resistance from Amazon, which appealed to the Sebi, BSE and NSE to not approve the deal.
“Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited,” the Competition Commission of India (CCI) said in a tweet.
Amazon has won an injunction, barring Future Retail and its promoters from executing its deal with Reliance Retail from an emergency arbitrator of the Singapore International Arbitration Centre (SIAC).
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