BENGALURU: Mukesh Ambani’s Reliance Industries Ltd will pay between 240 billion and 270 billion rupees (US$3.2bil-US$3.6bil) to buy the Indian retail chains owned by Future Group, Mint newspaper reported, citing two sources familiar with details of the deal.
Asia’s richest man, Ambani has been buoyed by investments close to US$20bil from backers in his oil-to-telecoms conglomerate, and is seeking to strengthen his hand in India’s huge retail sector.
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