India's Top Court Halts Future Group's $3.4 Billion Deal With Reliance, Bloomberg Reports
February 22 2021 - 3:04AM
Dow Jones News
--India's Supreme Court has put the regulatory brakes on
Reliance Industries' $3.4 billion acquisition of some Future Group
businesses after Amazon.com petitioned against the deal's approval,
Bloomberg reports.
--The top court on Monday overturned a lower court's ruling and
stopped India's company tribunal from approving the sale of Future
Group's retail, wholesale, logistics and warehousing businesses
until further orders, according to Bloomberg.
--The latest decision gives the legal advantage back to Amazon,
after a Delhi High Court earlier this month lifted an order
restraining the asset sale to billionaire Mukesh Ambani's Reliance
conglomerate.
Full story: bloom.bg/3k9zyCE
Write to Singapore editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
February 22, 2021 02:49 ET (07:49 GMT)
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