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India's CCI approves Amazon stake in Future Coupons

04
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The Competition Commission of India (CCI) recently approved the acquisition of 49 per cent stake—comprising both voting and non-voting shares—in Future Coupons Pvt Ltd (FCL) by Amazon.com NV Investment Holdings. The proposed combination consists of certain other constituent steps involving FCL, Future Corporate Resources Private Limited (FCRPL) and Future Retail Limited (FRL).

Future Coupons is a Future Group company that holds a minority stake in Future Retail, which owns Big Bazaar.

FCRPL is engaged in business of management consultancy services and trading in goods and services and also has investments in various Future Group of companies. FCL is principally engaged in marketing and distribution of corporate gift cards, loyalty cards and reward cards to corporate customers.

FRL and its subsidiaries are active in the Indian retail market and currently operate multiple retail formats in hypermarkets, supermarkets and convenience stores under various brand names.

A detailed order of the CCI will follow, according to a press release from the ministry of corporate affairs.

Fibre2Fashion News Desk (DS)


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