Amazon’s stake acquisition in Future Retail is back on track, likely to be announced next month

Amazon’s attempts to acquire a minority stake of 10 per cent in Future Retail for about ₹ 2,000 crore, that began in early 2018, is back on track after encountering a hiccup in the form of changes to FDI norms for e-commerce companies announced by the Government last December, and which came into effect from February 1. Last year, founder and CEO of Future Group, Kishore Biyani had declared that he will sell a minority stake to the strongest global retailer. However, he did not divulge the name of the retailer.

Both Amazon and Future Retail are currently working towards coming up with a deal structure that complies to the draft national e-commerce policy that was introduced by the Government on Saturday and will be ready to announce it next month, said sources in the know of the deal.