New Delhi, April 2
Reliance Retail Ventures Ltd (RRVL) has extended the timeline for six months to complete its Rs 24,713-crore deal with Future Group. RRVL has extended the timeline for the “Long Stop Date” from March 31, 2021 to September 30, 2021, said a regulatory filing by Future Retail.
Long Stop is a timeframe in which parties agree on which all the conditions precedent for a transaction need to be fulfilled and the transaction completed. — PTI
The deal, which is contested by Amazon, is facing legal hurdles and a decision from the Supreme Court is pending over the petition filed by the e-commerce major