Deals
Amazon Nears Deal for Up to 10% of India’s Second-Largest Retailer
- Indian supermarket firm seeks 20 billion rupees for shares
- U.S. giant gears up for fight with Walmart, Reliance in India
A Future Retail Big Bazaar hypermarket in Mumbai.
This article is for subscribers only.
Amazon.com Inc. is in late-stage talks to acquire as much as 10% of India’s Future Retail Ltd., people familiar with the negotiations said, as the U.S. company moves to bolster its brick-and-mortar presence in one of the world’s fastest-growing retail markets.
India’s No. 2 retailer by turnover, Future is seeking a valuation of about 20 billion rupees ($281 million) from Amazon for the stake, according to the people, who asked not to be identified as the discussions are private. The sale is likely to be routed through a holding company, they said, and will give Amazon the option to buy more shares from Kishore Biyani, Future Retail’s founder and chairman.