Amazon nears deal for up to 10% of Future Retail

August 13, 2019 |
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News
Amazon nears deal for up to 10% of Future Retail

Mumbai: The online giant Amazon has invested 10 per cent in Future Retail, India's second largest retailer. It is expected to invest US $ 281 million as part of this. Future Retail founder Kishore Biyani also said that after the initial acquisition, it may be possible to sell more shares in the future.

Amazon will also reach Future Group's grocery retail chain, Big Bazaar. There are signs that the sale will range from home appliances to fresh fruits and vegetables. Negotiations are in progress, but Amazon has yet to decide on the sale of its shares, spokesmen for both companies said.

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