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Friday, January 22, 2021

​Amazon-Future Coupons deal: Reliance Industries and 10 other companies barred

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Amazon’s shareholders’ agreement with Future Coupons (FCL) had reportedly barred not just Reliance Industries (RIL) but few more companies from buying into Future Group’s retail assets. As per the agreement submitted to the Singapore arbitration court (SIAC), Amazon had explicitly named several global and local companies as parties which cannot buy shares or stake in Future Coupons, a holding company of Future Group. Economic Times (ET) is said to have reviewed a copy of the order. In 2019, Amazon had invested Rs 1431 crore in Future Coupons.

In August this year, the Kishore Biyani-owned Future Group agreed to sell its retail and wholesale assets to Reliance Retail Ventures in an all-cash deal worth Rs 24,713 crore. Amazon has termed this as breach of contract and moved SIAC for international arbitration. Here are the 10 companies that the contract reportedly barred.

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