Reliance Industries in process to acquire retail business of Kishore Biyani
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Mukesh Ambani owned Reliance Industries Limited may soon acquire the retail business of Kishore Biyani. RIL has directed the Future Group's lenders for a significant haircut on debt and easier terms of repayment. A haircut of approximately 30 percent on outstanding loans of over Rs 6,000 crore and refinancing part of the borrowings for a further tenure of 5-7 years are among the demands of Mr. Ambani for closing the deal.