InvestorQ : What is the latest on the Reliance, Future group merger deal?
prachi Patwardhan made post

What is the latest on the Reliance, Future group merger deal?

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sara Kunju answered.
4 weeks ago
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Future group which had entered into a Rs.28,300 crore merger with Reliance Retail, has now requested the Supreme Court to reject the arbitral award issued by the Singapore International Arbitration Centre. The SIAC had ordered a freeze on the $3.4 billion asset sale of FRL to Reliance Retail, subsequent to objections from Amazon. The deal has been in limbo since then.

Amazon has cited its earlier agreement with Future Coupons, where Amazon owns a stake, for stalling this deal. Future Retail has opined that delay in resolving the issue will heighten risk of financial stress, jobs and market share. Future had been forced into this deal with over Rs.11,000 crore dues to banks. However, the delay is not only making the banks sceptical but also pushing Future group to a tight corner.

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