Amazon was aware of talks with RIL for sale of retail assets: Biyani

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 Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant’s 2019 investment in Future Coupons Pvt Ltd (FCPL) — Future Retail’s parent — was for coupon and gifting business only and the same could continue post-retail assets going to Reliance.

He hoped to complete the deal with Reliance within two months of Sebi approval.