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In fight with Amazon, Future Retail sees liquidation if Reliance deal fails

Amazon on Sunday won an injunction from a Singapore arbitrator to halt FRL's deal to sell assets to Reliance

Kishore Biyani, Future retail, big bazaar, bazar
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The dispute centres around FRL's decision in August to sell its retail, wholesale, logistics and some other businesses to Reliance for $3.38 billion, including debt

Reuters
India's Future Retail Ltd (FRL) will go into liquidation if its deal to sell assets to Reliance Industries fails, the group told a Singapore arbitrator while arguing against Amazon.com Inc's bid to scupper the deal, a legal order seen by Reuters showed.

Amazon on Sunday won an injunction from a Singapore arbitrator to halt FRL's deal to sell assets to Reliance. Amazon alleged FRL had breached certain contract provisions it entered into last year in a separate deal with the US firm.

The dispute centres around FRL's decision in August to sell its retail, wholesale, logistics and some other businesses to Reliance

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First Published: Oct 27 2020 | 1:41 AM IST

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