Business World

  Highlights :  Reliance buys Kishore Biyani's retail business The acquisition gives Reliance Retail sway over a network of nearly 1,800 stores & brings in ₹26,000 crore in additional sales  To create a $26 billion retail empire R eliance Industries has agreed to buy Future Group's retail business across apparel, lifestyle and grocery segment.  The acquisition including Reliance taking overall debts, liabilities, retail stores and a minority stake in its consumer business, with an investment of about ₹27,513 crore.  For Kishore Biyani, who is often called the father of India's organised retail, this deal effectively means his exit from the segment he built over the last three decades. This acquisition gives Reliance Retail sway over a network of nearly 1,800 stores & brings in ₹26,000 crore in additional sales to create a $26 billion retail empire, seven times bigger than its nearest rival Avenue Supermarts that runs D-Mart.