Reuters logo
Amazon affiliate to buy $27.6 million stake in retailer Shoppers Stop
September 24, 2017 / 3:32 AM / in 3 months

Amazon affiliate to buy $27.6 million stake in retailer Shoppers Stop

MUMBAI (Reuters) - An affiliate of Amazon.com Inc has agreed to buy a 1.79 billion-rupee ($27.6 million) stake in Indian retailer Shoppers Stop Ltd, the Indian company said in a filing.

FILE PHOTO: The logo of the web service Amazon is pictured in Mexico City, Mexico on June 8, 2017. REUTERS/Carlos Jasso/Illustration/File Photo

Amazon.com NV Investment Holdings LLC, a foreign portfolio investor, will subscribe to about 4.4 million shares, equivalent to an about 5 percent stake, in the Indian retailer at 407.78 rupees apiece on a preferential basis, Shoppers Stop told the stock exchanges late on Saturday.

On Friday, Shoppers Stop shares had closed 3 percent lower at 418.10 rupees on the National Stock Exchange.

The Amazon affiliate will not take a board position, Shoppers Stop, which operates large department stores and other retail outlets, said in the filing.

($1 = 64.7900 Indian rupees)

Reporting by Devidutta Tripathy; Editing by Sam Holmes

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below