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Amazon To Buy Up To 8% Stake In Future Retail: Report


As per a leading business channels report, Amazon, US based online-retailing company, is likely to take over up to 8% stake in Kishore Biyani led Future Retail. The deal is likely to close in next two weeks time.

Amazon To Buy Up To 8% Stake In Future Retail: Report

The two companies to enter a deal are finalizing the agreement that could include clauses in relation to exclusivity. The deal is expected to include a mix of both cash and stock. And will be signed by Amazon India office representatives. Furthermore, valuation of the buy-out will be decided upon signing of the deal.

Subsequent to the deal, it is expected that Amazon may come up with a microsite for Future Retail brands. Also, stores of Future Retail post the deal may include Amazon experience centres.

Prior to this deal, Amazon and India-based PE firm Samara Capital had acquired More, food and grocery chain of Aditya Birla Group, for a financial consideration of Rs. 4200 crore. Also, earlier this year, the investment arm of Amazon, Amazon NV Holdings picked up 5% stake in Shoppers Stop for as much as Rs. 180 crore.

Recently, Jeff Bezos, Amazon's CEO said the company will up its investment in India by an additional $3 billion, strengthening its India commitment to over $5 billion.

Read more about: amazon future retail more jeff bezos
Story first published: Tuesday, October 16, 2018, 14:02 [IST]
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