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Indian retail chains merge to cut costs, raise capital

Published Tue, May 5, 2015 · 09:50 PM
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Mumbai

INDIAN grocery chain Future Retail extended its five-day rising streak after announcing a merger with billionaire Sunil Mittal's Bharti Retail to reduce costs and get cheaper loans.

Two companies will be formed as a result of the merger, Future said in a statement on Monday. Future Retail will hold the combined store operations, comprising of 570 stores across India. Future Enterprises will own the infrastructure and investment assets of…

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