Deal Street

September 04, 2019

Amazon represented by AZB & Partners in the acquisition of stake in Future Coupons Limited


[ by Legal Era News Network ]

AZB-&-Partners

US based e-commerce giant Amazon has acquired 49% stake in Kishore Biyani owned Future Coupons Ltd. which is the promoter entity of Future Retail. The equity investment is set to comprise both, voting and non-voting shares.

As per the BSE filing, Mr. Kishore Siyani on behalf of the existing shareholders forming part of the promoter group and Future Coupons Limited (Promoters) has informed that they have entered into a share subscription agreement and a shareholders’ agreement with Amazon.Com NV Investment Holdings LLC (Amazon).

The Promoters have also agreed to certain share transfer restrictions on their shares in the Company for same tenure, including restrictions to not transfer shares to specified persons, a right of first offer in favour of Amazon, all of which are subject to mutually agreed exceptions (such as liquidity allowances and affiliate transfers).

Future Coupons is engaged in developing innovative value-added payment products and solutions such as corporate gift cards, loyalty cards, and reward cards primarily for corporate customers. According to Future Retail, this investment shall provide an opportunity for Future Retail to learn global trends in digital payments solutions and launch new products.

Future Retail operates the popular retail chain of Big Bazaar and other smaller format retail outlets.

The exact value consideration of the deal has been kept confidential but is said to be in excess of USD 100 Million.

AZB & Partners represented Amazon in this deal.

Concerned Partners involved in this deal include Ajay Bahl, Hardeep Sachdeva, Rachit Bahl, Priyamvada Shenoy and Sachin Mehta. The concerned Senior Associates team comprised of Ankit Jaiswal, Shivang Sargoch and Gautam Kumar Bhargava. The concerned Associates team comprised of Tarini Gulia, Sahil Tandon, Tushar Dutta, Swati Singh, Ambika Khanna and Atishay Jain.

Related Post

latest News

  • Parsvnath's net loss reported at Rs 91.18 crore in Q1 FY20

    Parsvnath developers reported a net loss of Rs. 91.08 crore in the quarter ended June 2019.

    Read More
  • Parliament Passes Code On Wages Bill, 2019 Which Ensures Minimum Wages For Workers In The Unorganized Sector

    The Code On Wages Bill, 2019 is all set to receive the President’s assent and become law shortly, after being passed in both the Rajya Sabha and the...

    Read More
  • Consumer Complaints Dismissal On Technical Grounds Defeats Purpose Of Ensuring Justice, Says Supreme Court

    Dismissal of consumer complaints on mere technical grounds add to the burden of litigation and defeat the very purpose of ensuring justice in the cons...

    Read More
shares