Source: Business Standard, Aug 23, 2019
Bengaluru: After almost a year of negotiations, global e-commerce and technology giant Amazon.com is acquiring a 49 per cent stake in Future Coupons, the promoter entity of Future Retail. According to sources in the know, the size of the deal is between Rs 1,500 crore and Rs 2,000 crore.
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.
“We have been informed by Kishore Biyani on behalf of the existing shareholders forming part of the promoter group and Future Coupons Limited (promoters) that they have entered into a share subscription agreement and a shareholders’ agreement with Amazon.com NV Investment Holdings LLC (Amazon),” Future Retail said in a BSE filing on Thursday evening. Read the rest of this entry »