Stock prices of Future Group companies gained higher in the early morning deals on Friday, a day after the Competition Commission of India (CCI) gives a go ahead to Amazon.com NV Investment Holdings to acquire 49% in future group-owned Future Coupons (FCL).
Future Coupons is a subsidiary of Future Group, which owns 7.3 percent of Future Retail (owner of Big Bazaar brand), and with this transaction, Amazon would acquire around 3.58 per cent stake in Future Group. The proposed combination pertains to the acquisition by the acquirer (Amazon) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons Ltd).
At 10:30 am, Future Enterprises was trading over 18 per cent higher at Rs 26.35 apiece on the NSE while Future Retail was up more than 13 per cent at Rs 372.70. Future Consumer was ruling nearly 9 per cent higher at Rs 27.55 and Future Lifestyle Fashions was trading at Rs 415.20 up over 2.22 per cent.
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