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Retail Rush: Amazon looking to buy stake in Future Retail

Nov 28, 2018 15:13 IST

Another shake up for the retail industry could be coming soon. Reports indicate online retailer Amazon is in advanced talks to buy close to 10% stake in Kishore Biyani’s Future Retail that holds brands like Big Bazaar and FoodHall. The deal could be valued around Rs 2,000 crores and could also reportedly include Amazon buying out the entire promoter group holding in the future .Final touches to the deal are expected within the next ten days, although sources indicate in case of last-minute hurdles the deal could be announced in January 2019.

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