It looks like AP CM Chandrababu Naidu does not want to take any further risk with the Heritage retail stores. As long as he was in opposition he was somehow depending on the Heritage retail stores which was maintained by his family members.
Now after becoming the CM once again he wants only Heritage Diary which is doing well and want to discontinue with the retail stores which are doing a business of not more than Rs 500 crore. He in fact is in talks with the Future group for giving away the retail stores and the deal is almost final.
Future group will get around 200 stores across the south from Heritage with this deal. It looks like the AP CM Babu now has got better things to do and will do away with the retail stores business across south. He will continue with the Milk business which is giving good returns. He might expand the diary business in the near future it is reported.
There are rumors that Babu might be helping he Future group from the back door and in return they will be taking over the Heritage retail stores with a good price. When YSR was in power, Jagan also did deals of this king by selling shares in Sakshi and also cement company and now he is facing the music by receiving summons from the ED.
One thing is for sure, Babu will definitely make profit by selling away the Heritage retail chain to Future group. There is no doubt about it. The future group will also take Heritage and would be benefited in the long run in a different manner.
