Amazon Gets Ruling From Singapore Court In Its Favour, But Reliance Says Deal With Future Group Will Go Ahead
Amazon has won interim relief from a Singapore-based arbitration court which seeks to stall the sale of Future Group to Reliance.
In August last year, Amazon had acquired a 49 percent stake in Future Coupons, a Future Group entity.
Future Coupons in turn owned a 7.3 percent stake in Future Retail, giving Amazon an indirect stake in Future Retail.
It had done so by proposing to acquire the retail assets of Future Group, and not Future companies.
Future Group merged 19 retail and its related back-end infrastructure companies, including Future Retail, into Future Enterprises.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.