Shoppers Stop has informed that closing has commenced under the Share Purchase Agreement - accordingly, the Company along with other Sellers have transferred their entire equity shareholdings held in Hypercity Retail (India), (Hypercity / material subsidiary) to Future Retail (Purchaser) on November 30 2017, received part of the cash consideration (with payment of balance amount (to the extent payable) being subject to certain purchase price adjustments to be determined) and share consideration consisting of 4,756,823 equity shares of Rs.2 each of Future Retail will be received, once the same are allotted by the Purchaser.
The above information is a part of company’s filings submitted to BSE.
