Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
News

Home News News and Press Release Month 11 2019 2019 (11) This

CCI approves acquisition by Amazon.com in Future Coupons

28-11-2019
  • Contents

The Competition Commission of India (CCI) approves the acquisition by Amazon.com NV Investment Holdings LLC (“Acquirer”) in Future Coupons (Private) Limited (“FCL/Target”), under Section 31(1) of the Competition Act, 2002, today.

The proposed combination pertains to the acquisition by the Acquirer of approximately 49% of the voting and non-voting equity shares of the Target (“Proposed Combination”). The Proposed Combination consists of certain other constituent steps involving FCL, Future Corporate Resources Private Limited (“FCRPL”), and Future Retail Limited (“FRL”).

The Acquirer is globally engaged in the business of making investments in other companies. It is a direct subsidiary of Amazon.com, Inc. (“ACI”) and belongs to the Amazon group. ACI is the ultimate parent entity of the Amazon group.

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.

Quick Updates:Latest Updates