Other Private Equity/Strategic Investments
Amazon sells off its 4% stake in retail chain Shoppers Stop for Rs.276-Cr
Economic Times Business Standard
Global e-commerce platform Amazon, through its investment arm Amazon.com NV Investment Holdings, has exited its 4% stake (44 lakh shares) in publicly-listed Mumbai-headquartered retail chain Shoppers Stop for INR 276 crore through an open market transaction.The shares were offloaded at an average price of INR 627.60 apiece, taking the transaction value to INR 275.89 crore.Asset and wealth management company 360 One, through its four affiliates, acquired stakes in Shoppers Stop. Kotak Mahindra Mutual Fund (MF), Tata MF and Morgan Stanley also picked up shares in the department store chain at the same price.In January 2018, Shoppers Stop had allotted shares worth INR 179.26 crore to Amazon.com.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
