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

Nov 28, 2018 by The Passage Team
Amazon 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.

A final shape to an agreement between the two parties is expected to take place within the next 10 days, the sources said although in case of last minute hurdles the deal could be announced as late as January 2019.

According to a media report, the Amazon-Future Group deal is initially estimated to be around ₹2,000 crore executed under foreign portfolio investor (FPI).

As of September 2018, promoter and promoter group had 46.51% share of Future Retail Ltd, which operates hypermarket and supermarket under brands which include- Big Bazaar, Easyday, Foodhall, HyperCity, FBB, Heritage fresh, ezone and WH Smith.

Source: Livemint

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