Amazon to buy 8 percent stake in Future Retail

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- REUTERS, BENGALURU

Oct 17, 2018-

Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India’s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources. The potential cash-and-stock deal, which is in its final stages, could be worth $338 million and is likely to be signed in the next two weeks, the channel here said. Earlier this year, media reports said Amazon was in talks to buy a 10 percent stake in Future Retail, competing with tech giant Google and Alibaba-backed Paytm. Future Retail had denied the reports. The potential deal will be next in a series of acquisitions by Amazon.com Inc in one of the fastest-growing markets. In September, Amazon, along with private equity firm Samara Capital, bought Aditya Birla Group-owned ‘More’ retail chain for an enterprise value of $568.03 million. 

Published: 17-10-2018 09:08

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