E-commerce giant Amazon will acquire a 49 percent stake in Kishore Biyani-led Future Group entity Future Coupons Ltd for an undisclosed amount.
“Amazon has agreed to make an equity investment in Future Coupons Limited for acquiring a 49 percent stake comprising both, voting and non-voting shares,” Future Retail said in a release to the exchange.
As part of the agreement, Amazon has been granted a call option. This call option allows Amazon to acquire all or part of the Promoters’ shareholding in Future Retail Limited (Company), and is exercisable between the third to tenth years, in certain circumstances, subject to applicable law.
“The Promoters have also agreed to certain share transfer restrictions on their shares in the Company for the same tenure, including restrictions to not transfer shares to specified persons, a right of the first offer in favour of Amazon, all of which are subject to mutually agreed exceptions (such as liquidity allowances and affiliate transfers),” Future Retail said.
