Current Affairs - Business - Discussion

The Aditya Birla Retail Limited (ABRL) sold its supermarket chain More to Witzig Advisory Services, owned by Samara Alternative Investment Fund. Amazon, in a deal with Samara, will be eventually picking up a 49% stake. The deal was done at about Rs.4,200 crore. This will give Amazon to access more than 500 physical outposts across the country. The transaction was made between Witzig-Samara in an exchange filing. RKN Retail said that the board had approved the sale of its entire shareholding in ABRL to Witzig.