New Delhi : India’s competition watchdog Competition Commission of India (CCI) on Thursday approved the acquisition by e-commerce giant Amazon.com NV Investment Holdings LLC in Future Coupons (Private) Limited (FCL) under Section 31(1) of the Competition Act, 2002. With this transaction, Amazon would acquire around 3.58% stake in Future Group.
The proposed combination pertains to the acquisition by the Acquirer of approximately 49% of the voting and non-voting equity shares of the FCL. The Proposed Combination consists of certain other constituent steps involving FCL, Future Corporate Resources Private Limited (FCRPL), and Future Retail Limited (FRL).
Last August, Amazon had announced that it would be acquiring a 49% stake in Kishore Biyani’s Future Coupons, the promoter entity of India’s second-largest retail chain Future Retail. Future Coupons owned 7.3% shares in the publicly-listed Future Retail.