Reliance Retail buys stake in Future Enterprises for Rs 24,713 crore.

"Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of INR 24,713 crore," the company said in a statement.

reliance Retail will now have access to close to 1,800 stores across Future Groups Big Bazaar, FBB, Easyday, Central, Foodhall formats, which are spread in over 420 cities in India.Pleased to provide a home to the renowned formats and brands of Future Group," said Isha Ambani, Director, Reliance Retail.