InvestorQ : What is the latest on the Future merger deal with Reliance Retail?
rhea Babu made post

What is the latest on the Future merger deal with Reliance Retail?

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Riya Dwivedi answered.
2 months ago
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Future Retail has requested a Delhi court to strike down the decision by the Singapore International Arbitration Centre (SIAC). The SIAC had suggested keeping the $3.4 billion sale of Future's retail assets to Reliance Retail in abeyance till the final order. Amazon had approached the SIAC to block the merger deal as it was contrary to the agreement between Amazon and Future group, signed when Amazon had acquired Future Coupons.

As of now the SIAC is just hearing the objections raised by Amazon on this subject. Amazon has accused Future group of breach of contract, something which the Future group has stoutly denied. Future Retail has now requested the Delhi Court to intervene and quash the latest ruling of the SIAC and even questioned its jurisdiction. The Rs.28,300 crore merger of RRVL and FEL has been hanging fire since August last year due to the Amazon saga.

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