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Business deals

Amazon and Reliance eye stake in India retail pioneer Future Group

Deal aimed at raising up to $2bn to cut store operator's debt

Future Group serves millions of customers through over 1,500 stores including flagship Big Bazaar supermarkets in more than 400 cities in India.   © Reuters

MUMBAI -- Future Group, India's storied but debt-laden retail and consumer goods conglomerate, is in talks with Amazon.com, Reliance Industries and other potential investors over a stake sale that could bring in $1 billion to $2 billion, the Nikkei Asian Review has learned.

Future Group, led by billionaire founder Kishore Biyani, is also negotiating the sale of shares with private equity companies Premji Invest and Samara Capital. Elements of the deal will differ for each investor, a source familiar with the talks told Nikkei, requesting anonymity.

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