Shoppers Stop and Louisiana Investment & Finance have transferred their entire equity shareholdings (comprising of 24,446,247 Equity Shares of Rs 10 each constituting 48.42% held by the company and 796,699 Equity Shares of Rs 10 each constituting 1.58% held by Louisiana Investment) held in Timezone Entertainment (Timezone) to Timezone West Asia on February 15, 2018 for a cash consideration of Rs 23.44 crore.
Earlier in December, the company had executed Share Purchase Agreement (SPA) with Louisiana Investment & Finance for the same.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.
