By: Matt LauerFox News 1,400 jobs, $4.6B in debt and $10B in stock buybacks: How did Amazon make its way to the White House?
The deal was announced in May of 2018 and the first day of President Donald Trump’s term.
It was announced that Amazon was buying Whole Foods, one of the nation’s largest grocery chains for $5.4 billion.
The deal, which also included a $2.5 billion purchase of Whole Foods Market, will be announced Friday.
The White House confirmed the deal and said that Amazon will pay the Federal Reserve interest on the loan to help it pay back the $4 billion it borrowed from the U.S. Treasury, according to a press release.
Amazon was supposed to pay $2 billion in interest on its $4bn loan and a $10 billion discount to cash flow from operations, which were estimated to be $1.2 billion, according a White House official.
The announcement came less than a week after Amazon agreed to buy Whole Foods for $4 bn.
In addition, Amazon has agreed to pay an $8 billion discount on a $4b debt loan, according the official.