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BSE SENSEX
73,088.33
+599.34
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Corporate Announcement
Security Code
500251
Company
Trent Ltd
Exchange Disseminated Time
Updates on sale of Subsidiary Company - Westland Publications Limited |
1/18/2017 7:53:12 PM
Trent Ltd has informed BSE that :
"We refer to the intimation dated 28th October 2016, wherein the Exchanges were informed that Trent Limited (the Company), Westland Limited (subsidiary of Trent Limited) and Westland Publications Limited (wholly owned subsidiary of Westland Limited) have executed a Business Transfer Agreement for the transfer of the Publishing Business of Westland Limited to Westland Publications Limited for a lumpsum consideration of Rs. 39.80 crores. The slump sale was expected to be completed post completion of the purchase of Westland Publications Limited by Amazon Eurasia Holdings S.A R.L.
This is to inform that Amazon Eurasia Holdings S.A R.L. has acquired 100% of the share capital of Westland Publications Limited.
Westland Limited would be a residual entity/ business (post completion of the envisaged transfer of the publishing business). In the foregoing context, the Company has agreed to acquire 26.03% of the share capital of Westland Limited, on a fully diluted basis, from Amazon Eurasia Holdings S.A R.L. thereby making Westland Limited a wholly owned subsidiary of the Company. For this purpose, the Company has entered into a definitive agreement dated 18 January 2017 with Amazon Eurasia Holdings S.A R.L."
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