Amazon and Future group Tussle: What, When and Why?
Amazon and Future group Tussle The tussle between the Future group and Amazon is only increasing and it’s searching for a legal conclusion that is not going to make things better between the three groups involved in it - Amazon, Future Retail and Reliance. So, what is this tussle, when it started and why it started and the possible conclusions from it. The Reliance and Future group Deal - In the August of 2020, Kishore Biyani-led Future Retail entered into an agreement with Reliance Industries Limited (RIL) group’s subsidiary Reliance Retail for Rs 24,713 crore to sell its retail, wholesale, logistics and warehousing units. The deal will include sale of its supermarket chain Big Bazaar, premium food supply unit Foodhall and fashion and clothes supermart Brand Factory’s retail as well as wholesale units. Future Group was very keen on selling its stakes for a long time because of pressure from lenders especially State Bank India (SBI) to manage the piling deb...