Shardul Amarchand Mangaldas advises Reliance Group in acquiring retail & wholesale business and the logistics & warehousing business of Future Group

August 29, 2020

Shardul Amarchand Mangaldas & Co has advised Reliance Retail Ventures Limited, subsidiary of Reliance Industries Limited in the deal for acquiring the Retail & Wholesale Business (through its wholly owned subsidiary, Reliance Retail and Fashion Lifestyle Limited) and the Logistics & Warehousing Business of the Future Group. The deal is valued at INR 24,713 crore, subject to adjustments as set-out in the composite scheme of arrangement. This acquisition is subject to SEBI, CCI, NCLT, shareholders, creditors and other requisite approvals.

The transaction was led by our Executive Chairman, Shardul Shroff & Equity Partner, Puja Sondhi together with Partner, Sumeet Singh. Pallavi Shroff, Managing Partner of the Firm provided strategic advice on the deal and transaction team was also supported by Partner, Promode Murugavelu.

Puja Sondhi and Sumeet Singh also led the due diligence exercise conducted on Future group entities and were supported by specialist partners like Mrinal Kumar (Real estate), Nitesh Jain (Litigation), J.V.Abhay (Intellectual Property), Pooja Ramchandani (Employment), Shahana Chatterjee (Data Privacy) and Ashish Teni (Insurance). The Competition Law team on the transaction is being led by Pallavi Shroff, Managing Partner, together with Partners Shweta Shroff Chopra, Aparna Mehra and Manika Brar.

Khaitan & Co., Trilegal & Wadia Ghandy & Co. were the other advisors involved in the transaction.