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Amazon may buy ~10% stake in Future Retail

Post Walmart’s acquisition of Flipkart, now Amazon has reportedly begun talks with Future Retail Ltd to acquire ~10% stake in the company, as per the media reports. Future Retail has retail chains like Big Bazaar, Easy Day, Foodhall, etc.

The deal is expected to value the Future Retail at US$6bn (~Rs40,000cr). As per this valuation, Amazon has to pay about US$500-600mn to acquire ~10% stake in Future Retail. Currently, Future Retail’s market cap is ~Rs26,700cr. Amazon has previously acquired 5% stake in Shoppers Stop for ~Rs180cr.

As Amazon is looking to strengthen its food and grocery business, this acquisition will help it in the same. The acquisition is also expected to help Future Retail in using Amazon’s platforms for better offerings and wider reach.

Bharti’s Cedar is also in talks to sell its stake in Future Retail to PremjiInvest and several other potential investors. The Future Group has removed the clause of restricting Bharti from selling its stake in the company, as per the media reports. As of March 31, 2018, Cedar held 9.23% stake in the Future Retail.

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