UK online electricals retailer AO World said on Wednesday it would buy the retailer of used smartphones and electronic products musicMagpie for about 10 million pounds ($13.3 million) to boost its mobile and consumer...
SpaceMantra pulls out resolution plan for Future Lifestyle
SpaceMantra, the winning bidder to take over Kishore Biyani’s retail brand outlet Future Lifestyle Fashions (FLFL), has withdrawn its resolution plan for the company days before lenders overwhelmingly voted for...
NCLT admits Future Group affiliate Acute Retail Infra under the insolvency resolution process
The bankruptcy court on Monday admitted Future Group’s affiliate Acute Retail Infra Pvt Ltd for Corporate Insolvency Resolution Process (CIRP) in an application filed by Avendus Finance Pvt Ltd after the company...
Retailer MINISO to buy nearly 30% stake in embattled Yonghui for $893 mln
MINISO will take up a 29.4% stake in Chinese supermarket operator Yonghui Superstores for 6.3 billion yuan ($893.05 million), it said on Monday, on track to becoming the largest single shareholder in the embattled firm...
Japan’s Seven & i rejects Couche-Tard’s $38.5 bln takeover offer
Japanese retail giant Seven & i Holdings said on Friday it had turned down Canada’s Alimentation Couche-Tard’s $38.5 billion cash bid, rejecting an offer that would be the largest-ever foreign buyout of...
UK’s Sainsbury’s agrees deal to acquire 10 Homebase stores
Britain’s second-largest supermarket group, Sainsbury’s, said on Thursday it had agreed to acquire 10 leasehold stores from home improvement retailer Homebase to covert into supermarkets. Sainsbury’s...
Walmart selling JD.com stake to focus on its own China operations
Walmart, the biggest shareholder of Chinese e-commerce firm JD.com, has sold its entire stake, according to a person familiar with the matter, exiting an eight-year investment to focus on its own operations in China. A...
NCLT approves merger of TCNS Clothing into Aditya Birla Fashion and Retail
Aditya Birla Fashion and Retail Ltd (ABFRL) said that the National Company Law Tribunal (NCLT) has approved the merger of the company with TCNS Clothing. The Scheme of Amalgamation (by way of Merger by Absorption) among...
The New Shop in advanced talks to acquire 24Seven
The New Shop, a grocery convenience retail startup, is in advanced talks to acquire Godfrey Phillips India’s grocery and convenience retail chain 24Seven, said executives directly aware of the matter. Founded in...
Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say
Private equity firm Blackstone is in early-stage talks to acquire Retail Opportunity Investments Corp (ROIC), which owns U.S. shopping centers and has a market value of close to $2 billion, according to people familiar...
Bankruptcy court orders liquidation of Future Retail as resolution eludes
It’s the end of the road for Kishore Biyani-led Future Retail Ltd, which once led India’s organized retail revolution. The National Company Law Tribunal (NCLT) on Monday ordered liquidation of the company, setting...
UK’s Hammerson to sell stake in Bicester Village owner to LVMH backed private equity firm
UK shopping mall owner Hammerson said on Monday it is selling its entire 42% stake in luxury shopping centre operator Value Retail to LVMH-backed private equity firm L Catterton for an enterprise value of 1.5 billion...
