Amazon deal to help payments side more, says Future Group founder Kishore Biyani
5 years, 4 months ago

Amazon deal to help payments side more, says Future Group founder Kishore Biyani

Firstpost  

Mumbai: Future Group founder Kishore Biyani has said global e-commerce giant Amazon’s investment in the firm is not just to raise money but also to become a part of the ecosystem. The company recently announced Amazon picking up a full 49 percent stake in Future Coupons, the promoter entity of Future Retail, with an option to acquire the entire stake later. Future Coupons currently does not own a stake in Future Retail but had recently subscribed to convertible warrants for Rs 2,000 crore. Moreover, the investment by Amazon is strategic to become a part of the ecosystem,” Biyani said here late Monday evening.

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History of this topic

RIL among 16 interested in Future Retail’s IBC assets
2 years, 1 month ago

RIL among 16 interested in Future Retail’s IBC assets

Live Mint  

MUMBAI : Mukesh Ambani’s Reliance Industries is among 16 suitors who have submitted expressions of interest to take over Future Retail Ltd, a person aware of the development said. On 29 August 2020, Reliance Industries announced a ₹24,713-crore deal that involved the proposed sale of Future Group’s retail, wholesale, logistics and warehousing businesses. According to the invitation for EoIs, Future …

Amazon's petition against Future rejected; directs to deposit over Rs 200 cr penalty in 45 days
2 years, 6 months ago

Amazon's petition against Future rejected; directs to deposit over Rs 200 cr penalty in 45 days

Firstpost  

In December last year, the Competition Commission of India suspended the approval given by it in 2019, for Amazon’s deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd New Delhi: The National Company Law Appellate Tribunal on Monday rejected Amazon’s plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce …

Future Group Colluding With Reliance To Handover Stores, Amazon Alleges Before Supreme Court
2 years, 9 months ago

Future Group Colluding With Reliance To Handover Stores, Amazon Alleges Before Supreme Court

Live Law  

Seeking orders to restrain Future Retail Limited from alienating its assets, e-commerce giant Amazon submitted before the Supreme Court that the FRL was acting in collusion with Reliance so to let the latter take over the former's stores in violation of the injunction orders. Amazon's Notice: Amazon has also issued a public notice alleging that Future Group is on the …

Decoding the multilayered Amazon-Future-Reliance legal drama
2 years, 11 months ago

Decoding the multilayered Amazon-Future-Reliance legal drama

Hindustan Times  

New Delhi: US-e-commerce giant Amazon and India’s Reliance Industries have been locked in a fierce battle for the future -- almost literally. The Delhi high court Future Group went to the Delhi high court against Amazon, imploring the court to restrain the US-based e-commerce major from writing to Sebi, CCI, and other regulators about SIAC’s order. While the arguments before …

Amazon challenges ED probe into 2019 deal with Future Group
3 years ago

Amazon challenges ED probe into 2019 deal with Future Group

India Today  

Amazon.com Inc is set to take the Enforcement Directorate to court over an ongoing investigation related to the US e-commerce giant’s 2019 deal with Future Group. On Wednesday, Amazon approached the Delhi High Court with an appeal to quash the ED investigation related to its $200 million investment in Future Coupons Private Limited. In the court filing, Amazon has called …

CCI slaps ₹200 crore fine on Amazon, freezes Future deal
3 years ago

CCI slaps ₹200 crore fine on Amazon, freezes Future deal

The Hindu  

The Competition Commission of India on Friday froze its approval given in November 2019 to Amazon’s investment in a Future Group unit on the grounds that the U.S. e-commerce company had suppressed the scope and full details of its investment while seeking regulatory approval. The CCI decision further roils the legal landscape as Amazon seeks to block the Future Group’s …

Amazon-Future Deal: CCI Suspends 2019 Future Coupon Nod, Imposes Rs 200 Cr Penalty on US Retailer
3 years ago

Amazon-Future Deal: CCI Suspends 2019 Future Coupon Nod, Imposes Rs 200 Cr Penalty on US Retailer

News 18  

The Competition Commission of India on Friday suspended Amazon’s 2019 deal with Future Group, a unit of Future Retail Ltd. CCI had mentioned in its order, “it necessary to examine the combination afresh.” “In exercise of the powers conferred under sub-section of Section 45 of the Act, the Commission hereby directs Amazon to give notice in Form II within a …

Amazon-Future tussle: Here's all you need to know
3 years, 11 months ago

Amazon-Future tussle: Here's all you need to know

Hindustan Times  

India's retail giant Kishore Biyani's Future Retail is stuck in a long-standing tussle with the US tech giant Amazon. Amazon has been blocking a deal worth $3.4 billion between Future Group and Reliance Retail alleging that the transaction between the two Indian majors violates the terms of its earlier contract with Future. > Amid the unprecedented challenges of Covid-19, Future …

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani
3 years, 11 months ago

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani

CNN  

CNN Business — Amazon has been handed a major legal victory in its fight to block a multibillion-dollar deal between two of India’s biggest retailers. In August 2019, Amazon invested in a Future Group entity that gave it a roughly 4.8% stake in Future Retail as of September 30 last year, according to securities filings. Amazon argued that the 2019 …

Future group's Biyani says Amazon creating confusion, playing dog in the manger
3 years, 11 months ago

Future group's Biyani says Amazon creating confusion, playing dog in the manger

Hindustan Times  

Future Group promoter Kishore Biyani has alleged that Amazon is "playing the dog in the manger" and trying to create a confusion about the group's ₹24,713-crore deal with Reliance Industries. The development comes days after Amazon petitioned the Delhi High Court to block the Future Group from selling retail assets to Reliance Industries and sought detention of Biyani and family …

HC issues notice on Amazon’s petition
3 years, 11 months ago

HC issues notice on Amazon’s petition

Live Mint  

The Delhi high court on Wednesday issued notices to Future Retail Ltd and others on Amazon.com Inc.’s appeal against a single-judge order that left it to regulators to decide on Future group’s asset sale to Reliance Industries Ltd but allowed the US retailer to oppose the deal. The court’s 21 December ruling prima facie upheld Future Retail’s board resolution approving …

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute
3 years, 11 months ago

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute

Live Mint  

India's Future Group expects swift regulatory approval of its $3.4 billion deal to sell its retail assets, its chief executive said, even as its warring business partner Amazon.com Inc intensifies efforts to block the deal. A New Delhi court in December dismissed Future's request to restrain Amazon's repeated attempts to get authorities to stall the deal. AMAZON PROTESTS The outcome …

Amazon was fully aware of talks with Reliance Industries for sale of retail assets: Kishore Biyani
4 years ago

Amazon was fully aware of talks with Reliance Industries for sale of retail assets: Kishore Biyani

Live Mint  

Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the ₹24,713 crore deal with …

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand
4 years, 1 month ago

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand

Live Mint  

Shares of Reliance Industries jumped up to 4 per cent on Monday after the Competition Commission approved the company's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. Besides, Future Retail zoomed 9.95 per cent to ₹79 -- its upper circuit limit, Future Lifestyle Fashions gained 9.99 per cent to ₹90.30 and Future Enterprises Ltd shares rose …

RIL-Future Retail deal gets CCI okay
4 years, 1 month ago

RIL-Future Retail deal gets CCI okay

Live Mint  

The Competition Commission of India on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd, in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt the ₹24,700 crore deal. “Commission approves acquisition of retail, wholesale, logistics and warehousing businesses of Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle,” CCI said …

Amazon-Future Deal: Possible Case of Tail Wagging the Dog
4 years, 1 month ago

Amazon-Future Deal: Possible Case of Tail Wagging the Dog

News 18  

A controversial deal made by Amazon with an arm of Future group in August last year has put the US e-commerce giant at odds with both Future group founder Kishore Biyani and Reliance Retail, which acquired the assets of the troubled retailer in August this year. Here is how Amazon is trying to accomplish this feat: On August 12, 2019, …

Amazon Seeks Control of Future Group's Assets Worth Rs 30K Cr with Rs 1,431 Cr Investment
4 years, 1 month ago

Amazon Seeks Control of Future Group's Assets Worth Rs 30K Cr with Rs 1,431 Cr Investment

News 18  

Amazon is seeking to control 100 per cent of FRL by controlling the entire Kishore Biyanis Groups majority equity in FRL, which means with an investment of Rs 1,431 crore, it seeks to control Future Groups assets worth about Rs 30,000 crore. Banks and financial institutions have an exposure in excess of Rs 18,000 crore towards unpaid debts from Future …

Amazon Not Shareholder, No Say in Company Affairs: Future Retail Tells Delhi HC
4 years, 1 month ago

Amazon Not Shareholder, No Say in Company Affairs: Future Retail Tells Delhi HC

News 18  

Kishore Biyani-led Future Retail Ltd Thursday told the Delhi High Court that Amazon was not its shareholder and has no say in its affairs and the interim order passed by the Singapore International Arbitration Centre was of no value. The court had on November 10 sought response of Amazon on FRL's plea alleging that the e-commerce major was interfering in …

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance
4 years, 2 months ago

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance

Live Mint  

Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd.’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Reliance intends to purchase Future Retail’s assets “without any delay,” the conglomerate’s unit said in a statement late Sunday, after …

Future Group Hints it May Challenge Arbitration Award Putting RIL Deal on Hold
4 years, 2 months ago

Future Group Hints it May Challenge Arbitration Award Putting RIL Deal on Hold

News 18  

Kishore Biyani-led Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums, to ensure that its Rs 24,713 crore deal proceeds unhindered and without any delay. Amazon.com Inc on Sunday won an interim award against its partner Future Group selling retail business to Reliance Industries Ltd for Rs 24,713 …

Amazon open to bailing out Future Group
4 years, 2 months ago

Amazon open to bailing out Future Group

Live Mint  

Amazon Inc. is open to helping debt-laden Future Group bring in a new, financially strong partner or investor if it calls off its ₹24,700 crore deal with Reliance Retail Ventures Ltd, said two people aware of the US e-commerce firm’s plans. “Future Group will be catering faster to RIL’s JioMart customers and not Amazon’s if the deal happens. In a …

Future of Biyani-Reliance deal under Amazon cloud
4 years, 2 months ago

Future of Biyani-Reliance deal under Amazon cloud

Live Mint  

Amazon.com Inc.’s legal challenge to void Future Group’s ₹24,700 crore asset sale to Reliance Industries Ltd hinges on a clause in the e-commerce giant’s 2019 investment agreement in Future Coupons Ltd that explicitly bars the Kishore Biyani-led group from forging a pact with the Mukesh Ambani company, two people directly aware of the matter said. Amazon has hired law firm …

Future-Reliance deal sparks arbitration case
4 years, 3 months ago

Future-Reliance deal sparks arbitration case

New Indian Express  

SIAC is a non-profit body that provides an alternative dispute resolution system for cross-border transactions involving foreign companies beyond the traditional forum of the courts. In 2019, Amazon agreed to pick up a 49 per cent stake in Future Coupons Ltd, which owns 7.3 per cent of Future Retail. That deal gave Amazon roughly 3.6 per cent in India's largest …

Amazon drags Future to Singapore arbitration
4 years, 3 months ago

Amazon drags Future to Singapore arbitration

Live Mint  

Bengaluru/Mumbai: Amazon Inc. has approached the Singapore International Arbitration Centre, claiming that Future Group has violated the contract under which the US-based e-commerce major took a stake in its subsidiary, and is asking for the deal with Reliance Industries Ltd to buy the Indian firm’s retail assets to be halted. Amazon agreed to purchase 49% of one of Future’s unlisted …

Kishore Biyani-led Future Retail pays up $14 million interest
4 years, 4 months ago

Kishore Biyani-led Future Retail pays up $14 million interest

Live Mint  

Kishore Biyani’s flagship company Future Retail Ltd, which runs the popular supermarket chain BigBazaar, on Monday said it has paid $14 million in pending interest on dollar bonds, after missing last month’s due date. “In furtherance to our letter dated 22 July 2020, wherein we had informed about the grace period of 30 days for making payment of interest on …

Jeff Bezos-Kishore Biyani meeting slated for Friday. Here’s what to expect
4 years, 11 months ago

Jeff Bezos-Kishore Biyani meeting slated for Friday. Here’s what to expect

India TV News  

Future Group’s Chief Executive Officer Kishore Biyani is slated to meet Amazon founder Jeff Bezos in Mumbai on Friday, amid protests against e-tailers by brick-and-mortar traders across the country. The business publication cited sources stating that a tie-up in online payments could be deliberated upon at length during the crucial meeting. “In the first phase, Amazon becomes the online sales …

Shares of Future group companies zoom after CCI gives nod to Amazon-Future Coupon deal
5 years, 1 month ago

Shares of Future group companies zoom after CCI gives nod to Amazon-Future Coupon deal

Firstpost  

Future Retail surged nearly 18.22 percent to Rs 387.90. New Delhi: Shares of Future Group companies rallied in early trade on Friday after the CCI approved Amazon.com NV Investment Holdings’ proposal to acquire about 49 percent share in Future Coupons. Shares of Future Lifetsyle Fashions rose 5.45 percent to Rs 428.45. The Competition Commission of India on Thursday said it …

Competition Commission gives a go ahead to Amazon to acquire 49 percent in Future Group-owned Future Coupons
5 years, 1 month ago

Competition Commission gives a go ahead to Amazon to acquire 49 percent in Future Group-owned Future Coupons

Firstpost  

As part of a pilot, Amazon Now does deliveries from 18 Future Group-owned Big Bazaar stores in Bangalore, Delhi, and Mumbai. “In addition, the Future Group and Amazon companies will operationalise business partnership agreements to jointly promote and sell FMCG and fashion brands on Amazon platforms,” the source said. “Following the approval, Future Consumer, the FMCG arm of Future Group …

Amazon’s bid to acquire stake in Future Retail faces antitrust hurdle: Sources
5 years, 2 months ago

Amazon’s bid to acquire stake in Future Retail faces antitrust hurdle: Sources

Live Mint  

India's antitrust body has sought more information from Amazon.com Inc about its planned acquisition of a stake in India's Future Retail, sources with knowledge of the matter told Reuters, which could potentially delay the deal. In a notice to Amazon last month, the Competition Commission of India said "in certain overlapping segments and areas of operation of the parties, the …

Amazon deal to help payments side more: Biyani
5 years, 4 months ago

Amazon deal to help payments side more: Biyani

Live Mint  

Mumbai: Future Group founder Kishore Biyani has said global e-commerce giant Amazon's investment in the firm is not just to raise money but also to become a part of the ecosystem. The company recently announced Amazon picking up a full 49% stake in Future Coupons, the promoter entity of Future Retail, with an option to acquire the entire stake later. …

Amazon signs deal to buy stake in Future Retail
5 years, 4 months ago

Amazon signs deal to buy stake in Future Retail

India TV News  

American e-commerce giant Amazon has signed a deal that would give it the option to take a significant stake in Future Retail Ltd, gaining access to physical stores across the world's fastest-growing retail market. The deal would indirectly give Amazon a 3.58 per cent stake in Future Retail Ltd, which runs more than 2,000 stores, including budget department and grocery …

Amazon set to buy a minority take in India's Future Retail which also owns Big Bazaar
5 years, 4 months ago

Amazon set to buy a minority take in India's Future Retail which also owns Big Bazaar

Firstpost  

The companies did not disclose the value of the deal, which gives Amazon a 3.58 percent stake. Amazon.com is set to snag a minority stake in India’s Future Retail, which operates more than 900 stores in India and owns several supermarket brands, including Big Bazaar. Future Retail’s market capitalization currently stands at $2.91 billion, pegging the value of a 3.58 …

Amazon to buy 49% stake in Kishore Biyani-led Future Retail promoter entity, stock dives 5.6%
5 years, 4 months ago

Amazon to buy 49% stake in Kishore Biyani-led Future Retail promoter entity, stock dives 5.6%

Firstpost  

Future Retail shares plunged more than 5 percent after the company announced the sale of 49 percent stake in promoter entity Future Coupons to e-commerce giant Amazon After news reports that Future Retail had entered into a share subscription agreement with Amazon, the company’s shares plunged more than 5 percent after the company announced the sale of 49 percent stake …

Amazon, Future group deal to intensify competition in India’s retail Industry
5 years, 4 months ago

Amazon, Future group deal to intensify competition in India’s retail Industry

Live Mint  

Mumbai: American e-commerce giant Amazon's investment Kishore Biyani's group company Future Coupons, is a win-win for both groups and is expected to increase competition in India's retail sector, feel analysts. On Thursday evening, Biyani's group said that Amazon is acquiring a 49% stake in Future Coupons, which holds about 7.3% stake in Future Retail through convertible warrants, the company that …

Amazon to acquire 49% stake in Kishore Biyani’s Future Coupons
5 years, 4 months ago

Amazon to acquire 49% stake in Kishore Biyani’s Future Coupons

Live Mint  

Mumbai: Kishore Biyani-led Future Group on Thursday evening said that American e-commerce giant Amazon.com is acquiring a 49% stake in a group entity — Future Coupons Ltd. “We have been informed by Mr. Kishore Biyani on behalf of the existing shareholders forming part of the promoter group and Future Coupons Ltd that they have entered into a share subscription agreement …

Amazon in advanced talks to buy 8-10% stake in Kishore Biyani-led Future Retail; deal expected to close in next few weeks
5 years, 4 months ago

Amazon in advanced talks to buy 8-10% stake in Kishore Biyani-led Future Retail; deal expected to close in next few weeks

Firstpost  

New Delhi: American e-commerce giant Amazon is in an advanced stage of discussions with Future Retail Ltd for picking up 8-10 percent stake in the Indian retail chain, according to sources. When contacted, Amazon India said the company doesn’t comment on speculation, while Future Retail declined to comment. Future Retail would be Amazon’s third investment in the Indian brick-and-mortar retail …

Amazon in talks to acquire 10% stake in Future Retail
5 years, 4 months ago

Amazon in talks to acquire 10% stake in Future Retail

Live Mint  

Amazon.com Inc. is in late-stage talks to acquire as much as 10% of Future Retail Ltd, people familiar with the negotiations said, as the US company moves to bolster its brick-and-mortar presence in one of the world’s fastest-growing retail markets. The proposed investment in Future Retail offers some parallels, enabling Amazon to tap into India’s rising demand for household products …

Future Group starts listing brands, products on Amazon; US e-commerce major may buy stake in Future Coupons
5 years, 8 months ago

Future Group starts listing brands, products on Amazon; US e-commerce major may buy stake in Future Coupons

Firstpost  

Future Group’s Big Bazaar will be one of the preferred sellers on Amazon Now. Amazon is also in talks to buy a stake in Future Coupons, a firm owned by Biyani Kishore Biyani-led Future Group has reportedly started listing its brands and products across various segments on US e-commerce major Amazon, a media report said. According to The Economic Times, …

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