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retail | IST

Samara Capital, Amazon likely to announce 'More' deal on September 19

Samara Capital and Amazon are all set to announce the acquisition of Aditya Birla Group’s (AB Group) food and grocery retail chain 'More' on Wednesday, said people familiar with the matter.
Samara Capital-Amazon consortium will buy More at an enterprise value of Rs 4,200 crore, the sources said, adding that Samara Capital will acquire 51 percent, while the remaining will be held by Amazon.
Pranab Barua, who heads the retail and apparel vertical of the AB Group, is likely to head the operations of the entity, added the sources.