Finally: Amazon gets CCI nod to acquire 49% stake in Future Coupons

The Competition Commission of India (CCI) has approved Amazon’s proposed Rs 1,500 crore deal to acquire 49% stake in Future Coupons Ltd (FCL), a Future Retail promoter group company. Kishore Biyani-owned Future Coupons currently does not own a stake in Future Retail but had recently subscribed to convertible warrants for Rs 2,000 crore. The deal is basically aimed at enhancing the payments portfolio of both the companies. The company has embarked on a Rs 1,000- crore investment plan for creating distribution centres for its food-on-demand venture. Named as India Food Grid, the project will connect the entire country through a single, multi-layer network.

https://www.businesstoday.in/current/corporate/amazon-gets-cci-nod-to-acquire-49-stake-in-future-coupons/story/391228.htmlThe Competition Commission of India (CCI) has approved Amazon’s proposed Rs 1,500 crore deal to acquire 49% stake in Future Coupons Ltd (FCL), a Future Retail promoter group company.

Kishore Biyani-owned Future Coupons currently does not own a stake in Future Retail but had recently subscribed to convertible warrants for Rs 2,000 crore.

The deal is basically aimed at enhancing the payments portfolio of both the companies. The company has embarked on a Rs 1,000- crore investment plan for creating distribution centres for its food-on-demand venture.

Named as India Food Grid, the project will connect the entire country through a single, multi-layer network.