Amazon is in advance stage talks to buy 9.5% stake in Future Retail

Amazon is in advance stage talks to buy 9.5% stake in Future Retail

Online retailer Amazon is in advanced stage of talks to buy around 9.5% stake in Kishore Biyani-led Future Retail, according to sources. The Amazon-Future Group deal is initially pegged to be around Rs 2,000 crore executed under foreign portfolio investor (FPI). The promoters may look to sell their entire stake to Amazon going forward. As of September 2018, the promoter and promoter group held 46.51% share of Future Retail Ltd. Future Retail operates hypermarket and supermarket under brands which include- Big Bazaar, Easyday, Foodhall, HyperCity, FBB, Heritage fresh, ezone and WH Smith.

Read More at Livemint News date : 28 Nov 2018, Wednesday

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