Amazon is expected to buy minority stake in India’s Future Retail. Credit: Mike Seyfang.

Online retailer Amazon is reportedly in talks to acquire 7% to 8% minority stake in India-based Future Retail for around $338m.

Sources familiar with the matter were cited by television channel CNBC-TV 18 as saying that the potential cash-and-stock deal is currently in its final stages and is expected to be materialised in the next two weeks.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In addition, the sources noted that Amazon will carry out the deal through an investment arm. However, both the firms declined to respond on the speculation.

Future Retail is the operator of Big Bazaar hyper and supermarket chain, fbb and Foodhall, Easyday Club, and eZone in India.

“The potential cash-and-stock deal is currently in its final stages and is expected to be materialised in the next two weeks.”

The latest development follows reports that emerged earlier this year about Amazon in talks to buy a 10% stake in Future Retail, competing with Google and Alibaba-backed Paytm.

The retail major has been increasing its footprint in India through acquisitions amidst competition from rival players such as Walmart and Reliance Retail.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last month, a consortium of Amazon and private equity fund Samara Capital acquired supermarket chain More from Aditya Birla Group (ABRL) for an enterprise value of $568m.

In August, Amazon entered into talks to acquire a minority stake in Indian retail chain Spencer’s Retail in a move to further penetrate the country’s retail market.

In June this year, India-based investment firm PremjiInvest acquired a 6% stake in Future Retail for $252m from Cedar Support Services, a subsidiary of Bharti Ventures.