By Reuters |
Topics Amazon | Future Group | Biyani’s Future Retail
Amazon.com Inc has sent a legal notice to a promoter of India's Future Group over the retailer's deal with Reliance Industries, ET Now reported on Wednesday, citing sources.
In August, Mukesh Ambani-led Reliance said it would acquire the retail and wholesale business as well as the logistics and warehousing business of Future in a deal valued at $3.38 billion, including debt. Amazon's investment in Future Group came with contractual rights, which includes a right of first refusal and a non-compete-like pact, a source told.....
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