Amazon & Samara buy Birla’s retail chain More for ₹4,200 cr

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Amazon and private equity fund Samara Capital have reportedly signed a deal to acquire billionaire Kumar Mangalam Birla’s supermarket chain ‘More’, India’s fourth largest, for an enterprise value of ₹4,200 crore. While Samara Capital will acquire a majority 51% stake in More, Amazon will acquire the remaining 49% stake. Aditya Birla Retail operates over 520 More stores in India.