Amazon has accused Future Group founder Kishore Biyani and his extended family of breaching a 2019 contract agreement under which the American ecommerce firm invested in a promoter company of . “The promoters...
Retail
Amazon held back facts in Future group deal, says CCI
The Competition Commission of India (CCI) has issued a show-cause notice to Amazon.com Inc., seeking to know why certain facts were not disclosed about its 2019 purchase of a 49% stake in a Future Group entity. The...
Russian retailer Magnit finalises Dixy buy for 87.6 billion roubles
Russian retailer Magnit on Thursday said it had finalised its purchase of rival Dixy for 87.6 billion roubles ($1.2 billion), lower than the original price after the competition regulator last week ruled that 142 stores...
Future Retail | Amazon: ‘Future Retail is direct beneficiary of Amazon’s stake buy in promoter company’
Amazon has told the Supreme Court that Future Retail was direct beneficiary of the ecommerce giant’s 2019 investment into Future Coupons while arguing that Singapore emergency arbitrator’s award putting on hold the...
Russian retailer Magnit to buy fewer Dixy stores to comply with competition law
Retailer Magnit’s purchase of rival Dixy was approved by Russia’s competition regulator on Thursday with the provision that 142 convenience stores be left out of the deal, the company said. Magnit agreed in May to pay...
Amazon-Future case: Singapore tribunal begins hearing plea on Reliance Retail deal
A Singapore arbitration tribunal on Monday began hearing Future Group’s plea to lift the stay on the deal to sell its retail assets to Reliance Retail and exclude its flagship listed company as a party to the dispute...
Australia’s Wesfarmers eyes pharmacy sector with $509 million API bid
Australian retail conglomerate Wesfarmers Ltd on Monday lobbed a A$680 million ($509 million) indicative bid for pharmacy chain Australian Pharmaceutical Industries (API), its first foray into the sector. Wesfarmers...
Future deal: SC to hear on July 20 Amazon plea against HC verdict
The Supreme Court on Thursday said it would hear on July 20 the Amazon plea against the Delhi High Court verdict that stayed the directive by its single-judge and paved the way for the multi-billion dollar deal to...
Germany’s Phoenix buys European businesses from McKesson
German drug distributor Phoenix Group has agreed to buy parts of U.S.-based McKesson’s European operations, the two companies said on Wednesday, without providing financial details. The deal includes McKesson’s...
Reliance in talks to buy stake in home fashion brand Portico
Reliance Industries is close to buying a substantial stake in Portico, a home fashion brand, two people with direct knowledge of the matter said. Portico is a fast-emerging brand owned by the Creative Group that...
Tata eyes cost synergies post BigBasket deal
Fast-moving consumer goods (FMCG) firm Tata Consumer Products Ltd (TCPL) will work “very closely” with BigBasket, an e-commerce platform that was recently acquired by the Tata Group, to drive synergies in terms of...
Britain’s Morrisons agrees $8.7 bln takeover by Fortress-led group
Morrisons has agreed to a takeover led by SoftBank owned Fortress Investment Group that values Britain’s fourth-largest supermarket chain at 6.3 billion pounds ($8.7 billion) and tops a rival offer from a U.S...
