According to an Economic Times report, the deal may get its final approval tomorrow as the board of Future Enterprises will be meeting on Saturday.
It is reportedly expected that the deal will be in an all-cash transaction, mostly valuing between Rs29,000-Rs30,000cr and that Future Group will merge five of its listed companies into Future Enterprises.
These entities are Future Consumer, Future Retail, Future Supply Chain, Future Market Networks and Future Lifestyle Fashion.
According to the sources reported by ET, RIL will pay about Rs13,000cr to Future Group for clearing debt, another Rs7,000cr for its liabilities (including payments to landlords and vendors), and Rs 6,000-7,000cr to the promoter group. Also, RIL will pick up 14-16% stake in Future Enterprises for Rs 3,000 crore through a preferential allotment by the latter.
On Sensex, Future Enterprises ended at the upper circuit limit of Rs20.20 per piece higher by 5%. While RIL settled on a subdued note at Rs2115.60 per piece.
