The Competition Commission of India (CCI) has approved the acquisition of Future Coupons (Private) Limited (“FCL/Target”) by Amazon.com NV Investment Holdings LLC under Section 31(1) of the Competition Act, 2002.
The proposed combination pertains to the acquisition by Amazon of approximately 49% of the voting and non-voting equity shares of the Future Coupons. It is believed that the Proposed Combination consists of certain other constituent steps involving FCL, Future Corporate Resources Private Limited (FCRPL), and Future Retail Limited (FRL).
Amazon.com NV Investment Holdings is globally engaged in the business of making investments in other companies. It is a direct subsidiary of Amazon.com Inc. and belongs to the Amazon group.
Led by Kishore Biyani, FCRPL is engaged in the business of management consultancy services and trading in goods and services and also has investments in various Future Group of companies. FCL is principally engaged in marketing and distribution of corporate gift cards, loyalty cards and reward cards to corporate customers. FRL (and its subsidiaries) are active in the Indian retail market and currently operate multiple retail formats in hypermarkets, supermarkets, and convenience stores under various brand names.
A detailed order of the CCI is expected to follow in the next few days.