HyperCity, a premium chain of 19 hypermarkets from Shoppers Stop for is set to be acquired by Kishore Biyani’s Future Retail Rs. 655 crore ($99.4 Million) through a combination of cash and shares.Future Retail owns Big Bazaar, Easyday, Nilgiris and Heritage stores and online furniture store Fabfurnish.com, while HyperCity Retail, a subsidiary of Shoppers Stop Ltd, operates HyperCity...
HyperCity, a premium chain of 19 hypermarkets from Shoppers Stop for is set to be acquired by Kishore Biyani’s Future Retail Rs. 655 crore ($99.4 Million) through a combination of cash and shares.
Future Retail owns Big Bazaar, Easyday, Nilgiris and Heritage stores and online furniture store Fabfurnish.com, while HyperCity Retail, a subsidiary of Shoppers Stop Ltd, operates HyperCity large format stores.
In an interview, Future Retail chairman and managing director KIshore Biyani had said his company will focus on setting up a network of small stores under the Easyday, Nilgiris, and Heritage brands and on the group’s consumer business Future Consumer Ltd.
AZB & Partners advised Future Retail with a team led by Senior Partner Ashwath Rau along with Counsel Prerak Ved and Associates Nirmal Mahtani and Karishma Muravne
Wadia Ghandy & Co acted for HyperCity Retail and team.