E – Commerce giant Amazon acquires 49% stake in Future Coupons
- By NewsOnFloor Staff
- Aug 23, 2019
- 54 views
Global e-commerce giant Amazon will acquire 49 percent stake in Future Coupons, a Future Group entity that holds minority stake in Future Retail. According to sources, the size of the deal is between Rs 1,500 crore and Rs 2,000 crore.
Future Retail said in a release to the exchange, "Amazon has agreed to make an equity investment in Future Coupons Limited for acquiring a 49% stake comprising both, voting and non-voting shares." According to a part of the statement, Amazon has been granted a call option. This call option allows Amazon to acquire all or part of the promoters' shareholding in Future Retail and is exercisable between the third and tenth years, in certain circumstances, subject to applicable law, the company said.
Future Retail is among India's largest retailers with a presence in 437 Indian cities and a store count of 1,557 stores. Amazon entered India's e-marketplace in 2013. A tie-up between the two would allow the Future Group to deleverage even as Amazon would get to push through the concept of converged retail.
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