Home / Companies / News / Jeff Bezos vs Kishore Biyani 2.0: RIL may pick up FRL through insolvency

Jeff Bezos vs Kishore Biyani 2.0: RIL may pick up FRL through insolvency

The tactic is not new for Reliance. In 2020, Reliance Industries acquired 37.7% stake in textile manufacturer Alok Industries Ltd for Rs 250 cr.

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The issue between Amazon and Future goes back to August 2019, when Amazon acquired 49 per cent in FCPL (Future Coupons Pvt Ltd), the promoter entity of FRL, for around Rs 1,500 crore

Peerzada Abrar Bengaluru

6 min read Last Updated : Apr 26 2022 | 12:36 PM IST

Jeff Bezos-led Amazon may continue fighting the legal battle with Future Retail Limited (FRL) related to the $3.4-billion merger deal between Future Group and Mukesh Ambani’s Reliance, according to people familiar with Amazon’s strategy. This is despite the development where Reliance Industries on Saturday told BSE its agreement to buy Future Retail for almost Rs 25,000 crore cannot be implemented after lenders to the retail company rejected the deal.

But this is all optics, according to people familiar with Amazon’s strategy. They said that Amazon's legal team is expecting that the lenders to Future Retail or the company would drag the

Topics : Jeff Bezos Future Retail Reliance Industries Kishore Biyani Amazon Insolvency and Bankruptcy Code Alok Industries

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