Trent to acquire majority stake in Booker India

Trent Limited on Tuesday informed that the company has agreed to acquire 51 per cent of the share capital of Booker India Private Limited (BIPL) for a consideration of Rs. 22 crore approximately.

The target entity, Booker Satnam Wholesale Private Limited (BSWPL) is an arm of BIPL operations, which involves 6 stores. BIPL holds 100 per cent shareholding of BSWPL. The main objective for the acquisition is to expand Trent’s business through additional stores. The time period for completion of the acquisition is on or before 31st October 2019.

Trent is one of the leading players in branded retail industry in India. Trent is established in 1998 and is a part of Tata group. The company has 142 retail stores in 80 major Indian cities under the Westside brands. Trent also operates the hypermarket star bazar in eight Indian cities. Trent has a separate joint venture with the Inditex group for Zara stores. Trent has introduced a range of creative kitchenware through an exclusive tie-up with British company Lakeland.

On Tuesday, the stock of Trent Limited opened at Rs. 513.00 per share and made an intraday high and low of Rs. 523.20 and Rs. 509.00, respectively on the BSE.  The stock closed at Rs. 515.50, increased by 1.57 per cent.