CCI approves Amazon.com's acquisition of 49% stake in Future Coupons
29 November 2019
The Competition Commission of India (CCI) has approved the acquisition of a 49 per cent equity stake in Future Coupons (Private) Limited by Amazon.com NV Investment Holdings LLC.
The proposed combination pertains to the acquisition by the Amazon.com of approximately 49 per cent of the voting and non-voting equity shares of the Future Coupons, an entity created by the Future Group, which is engaged in retail business.
The proposed combination consists of certain other constituent steps involving FCL, Future Corporate Resources Private Limited (FCRPL), and Future Retail Limited (FRL).
Amazon.com NV Investment Holdings LLC is globally engaged in the business of making investments in other companies. It is a direct subsidiary of Amazon.com, Inc and belongs to the Amazon group. ACI is the ultimate parent entity of the Amazon group.
FCRPL is engaged in the 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.