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BENGALURU: Companies led by billionaires Gautam Adani and Mukesh Ambani, a British retailer and global asset reconstruction firms are among the 49 entities in the fray to acquire Future Retail Ltd, the debt-laden Indian retailer said on Monday.
Reliance Retail, part of Ambani’s Reliance Industries Ltd as well as April Moon Retail Pvt Ltd, a joint venture between Flemingo group and Gautam Adani-led Adani Airport Holdings, have submitted expressions of interest (EoIs), an exchange filing by Future Retail showed.
Other entities that have submitted EOIs include London-based retailer WH Smith, a consortium led by US-based restructuring firm Gordon Brothers, JC Flowers Asset Reconstruction, India’s Jindal Power, and individual investor Harsha Vardhan Reddy.
Future Retail’s court-appointed resolution professional held a second round of EoIs since the first did not have enough participants, the Economic Times daily reported.
Future Retail, once India’s second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders also rejected a $3.4 billion buyout by Reliance amid a legal challenge by Amazon.com Inc.
Reliance Retail, Jindal Power, JC Flowers, WH Smith and Gordon Brothers did not immediately respond to emails seeking comment.
Reliance Retail, part of Ambani’s Reliance Industries Ltd as well as April Moon Retail Pvt Ltd, a joint venture between Flemingo group and Gautam Adani-led Adani Airport Holdings, have submitted expressions of interest (EoIs), an exchange filing by Future Retail showed.
Other entities that have submitted EOIs include London-based retailer WH Smith, a consortium led by US-based restructuring firm Gordon Brothers, JC Flowers Asset Reconstruction, India’s Jindal Power, and individual investor Harsha Vardhan Reddy.
Future Retail’s court-appointed resolution professional held a second round of EoIs since the first did not have enough participants, the Economic Times daily reported.
Future Retail, once India’s second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders also rejected a $3.4 billion buyout by Reliance amid a legal challenge by Amazon.com Inc.
Reliance Retail, Jindal Power, JC Flowers, WH Smith and Gordon Brothers did not immediately respond to emails seeking comment.
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