Bsc chronicle magazineKishore Biyani'sretail
behemoth Future Group on 5 Oct
announced that it had acquired HyperCity, a
19-store network of high-end grocery
and merchandise retail,bsc publication for 2655 cr from Shoppers Stop Ltd. As part of the stockand-cash deal, Future Retail will allot shares to existing shareholders of HyperCity Retail, monthlymagazine-bscwhile also paying cash of Z155 cr to take over the entire equity
of the supermarket
chain. Incorporated in May 2004, HyperCity has 1.24 mnsqft under operation.
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