Reliance to buy stake in Future Group!

Future has its $3.4 billion deal to sell its retail assets to market leader Reliance Industries due to successful legal challenges by Amazon, which argues that Future violated some pre-existing contracts the two sides had struck, by deciding to sell its retail assets to Reliance.

 
Amazon India head Amit Agarwal has been summoned by the Enforcement Directorate next week over alleged irregularities in a deal with Future Group, sources have said. Amazon had bought 49 per cent stake in Future Retail in a deal worth some ₹ 1,400 crore in 2019.

 
As part of the deal between Amazon and Future Coupons, Future Retail would have been able to place its products on Amazon's online marketplace.

 
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