Reliance Industries Limited announced that its subsidiary Reliance Retail Ventures Limited (RRVL) to acquire the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for approximately $3.6 billion.
- The above acquisition is being done as part of the Scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL).
- The acquisition of the retail, wholesale and supply chain business of the Future Group complements and makes a strong strategic fit into Reliances retail business.
The major deals and supports by Reliance Industries are featured below:
Aug 2020: Reliance Retail Ventures Limited (RRVL) a subsidiary of Indias leading organisation Reliance Industries Limited (RIL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. and its subsidiaries (Collectively known as Netmeds) for approximately $93 million.
July 2020: The search engine giant Google LLC announced a binding agreement with Jio Platforms Limited a subsidiary of Reliance Industries, for an investment of approximately $5 billion. Googles investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The wireless technologies leader Qualcomm Incorporated announced that its investment arm Qualcomm Ventures to invest approximately $110 million in Jio Platforms a leading digital platform provider in India. Qualcomm Ventures investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis.
July 2020: The global energy company bp and Indias Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
June 2020: Reliance Industries subsidiary Jio Platforms announced that Abu Dhabi state fund Mubadala Investment Co. of UAE will purchase around 1.85% stake of Jio Platforms, for approximately $1.21 billion.
May 2020: Jio Platforms, announced that KKR will invest approximately $1.7 billion into Jio Platforms. This is KKRs largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.