Skip to main content

After Hamleys, Mukesh Ambani's Reliance Eyes UK's 242-Year-Old Debenhams

 


Oil-to-retail conglomerate Reliance Industries Ltd (RIL) is said to be in the race to acquire Debenhams, a British multinational retailer operating department stores in the UK with franchise stores in other countries, Sky News reported on Wednesday.

“The Reliance Retail empire, which last year bought the world-famous British toy store Hamleys, is among a small number of parties in discussions with advisers to Debenhams about acquiring part or all of the 242-year-old retailer," the Sky News report said, adding that people close to the process had indicated that the chain was keen to agree to a takeover by the end of September. However, better-than-expected trading has relaxed the urgency of that timetable in recent weeks, they said.

Debenhams, which is currently owned by a consortium of lenders, has been in administration since April, with investment bankers at Lazard responsible for coordinating talks with potential buyers, Sky News said.

RIL subsidiary Reliance Brands had acquired Hamleys for ₹620 crore last July in an all-cash deal. Reliance Brands operates joint ventures with global brands.

Mukesh Ambani, the world’s fourth-richest man, is betting his company’s future on retail and digital platforms, reducing the emphasis of its mainstay chemicals and refining business. Last month, RIL acquired the retail and wholesale business and the logistics and warehousing business of domestic rival Future Group for a cash consideration of ₹24,713 crore, expanding its reach in the country’s retail market. It is also expanding in the online space through its new commerce strategy through JioMart.

Reliance Retail on Wednesday said it has raised ₹5,550 crore by selling a 1.28% stake in its retail business to US private equity (PE) firm KKR and Co., as India’s most valuable company creates a war chest for its push into e-commerce.

The latest transaction, the second such in about two weeks, brings the total funding into Reliance Retail Ventures Ltd (RRVL) to ₹13,050 crore and follows a record ₹1.52 trillion of investments into RIL’s digital assets unit Jio Platforms Ltd earlier this year.

The KKR investment values RRVL at an equity value of ₹4.21 trillion, RIL said. The PE firm had also bought a 2.32% stake in Jio Platforms for ₹11,367 crore. On 9 September, California-based PE fund Silver Lake picked up a 1.75% stake in RRVL for ₹7,500 crore.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...
Post a Comment
Read more

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...
Post a Comment
Read more

Times Internet posts 24% revenue jump to Rs 1,625 Cr in FY20

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
Post a Comment
Read more