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Jubilant Agri and Consumer Products to transfer hypermarket to Aditya Birla

Jubilant Agri and Consumer Products, the wholly owned subsidiary of Jubilant Industries will transfer its retail hypermarket business including four hypermarket stores in Bengaluru to Aditya Birla Retail via slump sale.

The company in a statement said, “Jubilant Agri and Consumer Products has agreed to transfer its retail hypermarket business undertaking consisting inter alia of four hypermarket stores in Bengaluru, India along with certain specified assets and liabilities including dedicated employees, contracts, licenses, permits, consents and approvals relating to this undertaking, to Aditya by way of a slump sale.”

The board of the company has already approved the transaction on May 12, and it is expected to be completed within four months subject to necessary statutory, regulatory and other approvals and approvals from Competition Commission of India and the shareholders.

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