Future-RIL Deal

Future-RIL Deal

22 April 2022, Mumbai:

Most Banks may have voted against the FRL-Reliance deal.

A majority of domestic banks may have voted against Future Group's sale of assets to Reliance-owned firms, while overseas bondholders and some non-bank lenders have voted in favour.

The vote was held.

 

ALSO READ Reliance Retail takes over Future Group stores

The deal could fall through if the future fails to get a majority vote from creditors and shareholders.

Decision Making
The outcome of Wednesday's shareholders' voting is expected on Friday.

RELATED NEWS Reliance Retail takes over Future Group stores

Future Group needs the approval of at least 75% of shareholders' and creditors' votes in each of the 6 listed companies in order for the scheme to go through.

The outcome of Thursday's voting by lenders and unsecured creditors is expected to come by the weekend.

 

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CREDITS: ET Dt 22-04-2022 (The news article has not been edited by DFU Publications staff)

 

 

 

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