Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd.’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that...
In a fight with Amazon, Future Retail sees liquidation if Reliance deal fails
India’s Future Retail Ltd (FRL) will go into liquidation if its deal to sell assets to Reliance Industries fails, the group told a Singapore arbitrator while arguing against Amazon.com Inc’s bid to scupper...
Future Retail not a party for arbitration proceedings, deal to proceed unhindered, claims retailer
Future Retail (FRL) said it is not a party to the agreement under which Amazon has invoked arbitration proceedings in Singapore International Arbitration Centre (SIAC) and will take steps to ensure its sell-out plan to...
Will enforce rights, complete Future transaction without any delay: Reliance
Reliance Retail Ventures Ltd (RRVL), the retail arm of India’s richest man Mukesh Ambani’s Reliance Industries Ltd on Sunday evening said that it intends to enforce its rights and complete the transaction in...
Amazon open to bailing out Future Group
Amazon Inc. is open to helping debt-laden Future Group bring in a new, financially strong partner or investor if it calls off its ₹24,700 crore deal with Reliance Retail Ventures Ltd, said two people aware of the US e...
Future-RIL deal: Jeff Bezos-Kishore Biyani battle begins in Singapore
The arbitration proceedings between Jeff Bezos-led Amazon and Kishore Biyani-headed FutureGroup have begun in Singapore. An emergency arbitration hearing between Amazon and retail conglomerate Future Group tookplace...
Alibaba shops for hypermarket chain Sun Art in $3.6 billion deal
Alibaba Group Holdings said on Monday it will invest $3.6 billion to acquire a controlling stake in hypermarket operator Sun Art Retail Group Ltd, gaining further ground in China’s retail market. The e-commerce...
RIL’s retail arm receives Rs 5,550 crore from private equity firm KKR
Private equity firm KKR has provided Rs 5,550-crore subscription amount for a 1.28 per cent stake in the retail arm of Reliance Industries (RIL). “Reliance Retail has received the subscription amount from Alyssum Asia...
Future of Biyani-Reliance deal under Amazon cloud
Amazon.com Inc.’s legal challenge to void Future Group’s ₹24,700 crore asset sale to Reliance Industries Ltd hinges on a clause in the e-commerce giant’s 2019 investment agreement in Future Coupons Ltd that explicitly...
J.C. Penney sale talks stall: Bloomberg News
Talks between J.C. Penney Co’s lenders and the would-be buyers, Simon Property Group Inc and Brookfield Property Partners LP, broke down in recent days, Bloomberg News reported on Thursday, citing people with...
What made Kishore Biyani sell his retail business
Future Group founder Kishore Biyani on Wednesday said the homegrown retail major lost nearly ₹7,000 crore revenue in first three-four months of the COVID-19 pandemic due to closing of stores, which led him to sell his...
Saudi PIF in talks to buy stake in UAE supermarket chain Lulu – sources
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in early discussions to buy a stake in supermarket chain Lulu Group International, two sources familiar with the matter told Reuters. It is in...
