Friday, Apr 19, 2024 | Last Update : 07:38 PM IST
Amazon, Samara Capital buy Aditya Birla Group's retail chain More: report
Samara Capital acquired 51 per cent stake in ABRL while the Amazon will acquire the remaining 49 per cent stake.
New Delhi: Amazon and Samara Capital have signed a deal to acquire the Aditya Birla Group's food and grocery retail chain 'More' for around Rs 4,200 crore, The Economic Times report said.
The deal was inked at the Aditya Birla Groups headquarters in Mumbai, the news daily reported.
Samara Capital acquired 51 per cent stake in Aditya Birla Retail Ltd (ABRL) while the Amazon will acquire the remaining 49 per cent stake.
The acquisition is through an existing facility management back-end company.
According to reports, if the deal goes through, it would be Amazon’s second direct investment in India’s retail business.
The Amazon and Samara Capital deal to acquire ABRL has to get clearance from the Competition Commission of India (CCI).
Amazon.com had picked a 5 per cent stake in Shoppers Stop last year for Rs 180 crore.
(With agencies input)
