Amazon almost seals Future Retail deal

| June 28, 2018

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Online retail major Amazon has almost clinched a deal to buy less than 10 per cent stake in the Kishore Biyani-led Future Retail. After Shopper’s Stop and More, Amazon is eyeing for a bigger pie in the Indian retail business by buying a stake in Future Retail.  Amazon may buy stake ranging between 9.5 and 9.9 per cent, as FDI rules permit only stake sale of less than 10 per cent. “Discussions are at a fairly serious level. On price front, both the entities are looking at making the best out of the opportunity. In my opinion, something around Rs 3,200 crore would be a right price,” said a person privy to the development. Future Group declined to comment on ‘market speculations.’ However, the price of the deal will be based on the current share price of Future Retail, adding a premium of not more than 25 per cent. The weighted average price of the share is Rs 528 on the BSE. Amazon would most probably buy stake in Future Retail via its investment arm, as it had done in the case of Shopper’s Stop.

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