Amazon agreed to buy a 49% stake in Future Coupons Limited, India's Future Retail said in a regulatory filing. The companies did not disclose the value of the deal.
As part of the deal, Amazon has been granted a call option, which allows Amazon to acquire all or part of the promoter group and Future Coupons' shareholding in Future Retail Limited, and is exercisable between the 3rd to 10th years, in certain circumstances.
Separately, Amazon said that it launched its largest Delivery Station in Tamil Nadu, India. The new station in Chennai will enable the company to strengthen its last-mile delivery network and ensure faster deliveries across the city.
The company also announced the expansion of its delivery network in Tamil Nadu including cities and towns like Namakkal, Tiruchengodu, Sivakasi, Krishnagiri and Tiruvallur to name a few. The company will have more than 120 owned and Delivery Service Partner stations, and more than 1400 'I Have Space' partners across the State.
For comments and feedback contact: editorial@rttnews.com
Business News