Friday, 24 March, 2023

Amazon wins interim arbitration order against Future's deal with Reliance

<p>A Singapore arbitration panel, in interim relief to Amazon, has ordered the Future group to put its $3.38 bn asset sale to RIL on hold. Amazon had alleged that the deal between the firms breached existing agreements. Amazon owns a 49% stake in Future Coupons, which owns a 7.3% stake in Future Retail and has a right of first refusal and a non-compete-like pact. The temporary injunction, however, was not enforceable in India until ratified by an Indian court.</p>