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Reliance: Reliance, Adani among bidders for Future ‘scrap’ - Times of India
Mukesh Ambani’s #Reliance Group, Adani Group, Jindal Power and a host of scrap dealers are among the bidders for what remains of Kishore Biyani’s Future Retail, once the second-largest chain in the country. Besides some operating stores such as Central and Foodhall, most of Future Retail’s assets are furniture and fixtures, which is the reason for the interest from scrap dealers and asset reconstruction firms JC Flowers and Gordon Brothers. The Reliance Group had agreed to buy Future Retail for Rs 24,713 crore, but it faced a series of litigation as Amazon, which had earlier invested in Future, objected to the deal. Bidders can bid for the whole company or specific clusters. Cluster I comprises of retail businesses in a particular zone. All the residual assets of the company are part of Cluster V.The resolution professional has admitted claims amounting to Rs 17,511 crore from 28 financial creditors, including foreign bond-holders, banks and domestic bond-holders. Source - https://timesofindia.indiatimes.com/business/india-business/reliance-adani-among-bidders-for-future-scrap/articleshow/99389200.cms?from=mdr
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