Synopsis
This will be a big support for the cash-strapped future group firms before the completion of Rs 24,713 crore buyout of the country s second-largest retailer by Reliance Industries arm.
Agencies
Future Group has requested the regulator to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review of the impugned transaction be suspended.
Future group firms have started getting large orders from
Reliance Industries, CEO Kishore Biyani said in an email to his employees.
The group firms Future Consumer and Future Enterprises have recently received orders from Reliance Industries.
This will be a big support for the cash-strapped future group firms before the completion of Rs 24,713 crore buyout of the country s second-largest retailer by Reliance Industries arm.
The Launch of the 2021 ICC Rules of Arbitration mediate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mediate.com Daily Mail and Mail on Sunday newspapers.
LAST Friday, market talk had it that the Federal Land Development Authority (FELDA) had secured the requisite funding to buy the stakes held by Kumpulan Wang Persaraan (Diperbadankan), or KWAP, and Urusharta Jamaah Sdn Bhd (UJSB) in FGV Holdings Bhd.
The funding included the amount needed to buy up all the shares not under FELDA and parties acting in concert with it. Details of the funding, however, were unavailable but one source familiar with the matter said that FELDA obtained the loan as it had assets in the form of land.
“I would think it’s a club deal (a consortium of banks), no single financial institution would take up such a loan … or it (the privatisation) could be government funded,” one source says.
Synopsis
On Monday, the Delhi HC rejected Future Group s plea to prohibit the American giant from interfering in its deal with Reliance Retail and said the statutory authorities are free to take their own decision as per law.
Future Retail approached the court with the argument that the company was not a party to the dispute between Future Coupons and Amazon
Future Retail (FRL) said its board decision to approve the merger of listed entities and sell retail assets to
Reliance Industries is valid according to the recent judgement by Delhi High Court and the entire legal basis of the interim award given by the Singapore International Arbitration Centre is vitiated.
Synopsis
Asian shares gained ahead of the Christmas break, as global investors cheered a potential Brexit deal and economic recovery prospects, largely ignoring US President Donald Trump s threat to veto a long-awaited COVID aid package.
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India 10-year bond yields were flat at 5.95 after trading in the 5.94-5.95 range.
NEW DELHI: Domestic stocks looked set to open firm on Thursday, as hopes of a Brexit deal between the UK and the EU increased risk appetite. Stocks rallied globally and there are expectations that domestic indices will follow suit.
Here are all the pre-market action:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 182.10 points, or 1.35 per cent, higher at 13,709.50, in signs that Dalal Street was headed for a positive start on Monday.