Amazon To Frl 'Samara Will Invest 7k Cr To Avert Default

Put on notice to confirm capital infusion to avert a looming loan default, Amazon told Future Retail (FRL) that Samara Capital remains interested in buying out the debt-strapped retailer's businesses such as Big Bazaar for ₹7,000 crore.

PRESS TRUST OF INDIA New Delhi, January 23

Asked by FRL's independent directors to confirm if it will infuse ₹3,500 crore into the cash-strapped retailer to enable it to pay its lenders by the due date of January 29, Amazon wrote to them saying FRL should provide its financial details to Samara Capital for the private equity fund to conduct an expedited due diligence.

While Amazon is opposed to billionaire Mukesh Ambani's group acquiring businesses of FRL along with other group companies for ₹24,713 crore, it seemed from amazon We confirm that based on your letter dated Jan 21, 2022, Samara Capital has once again reiterated to us that they remain interested (in) ....the term sheet dated June 30, 2020, signed amongst Samara, FRL and the promoters of FRL, which contemplates a purchase consideration of (₹7,000 crore) The letter that it was open to Samara Capitaltaking over the business.

AMAZON IN JANUARY 22 LETTER TO FRL INDEPENDENT DIRECTORS

‘Samara will invest ₹7k cr to avert default