Shoppers Stop sells majority stake in Crossword Bookstores to ABH for Rs.42-Cr

Mumbai-based, publicly listed departmental store chain Shoppers Stop Ltd (SSL) has sold a controlling stake in Crossword Bookstores to owners of Agarwal Business House (ABH) for INR 41.6 crore. SSL will divest a 51% stake within the next 15 days and another 39% in the next 12 months. The K Raheja Corp-promoted retailer plans to focus on its core business and expand its strategic pillars - first citizen, private labels, beauty and omnichannel business.