India: Amazon buys 5% equity in Shoppers Stop for $27m

India: Amazon buys 5% equity in Shoppers Stop for $27m

REUTERS/Mike Segar/File Photo

Departmental store chain Shoppers Stop Ltd has approved a proposal to sell 5% equity in the company for Rs 179.25 crore to Amazon NV Holdings LLC, the investment arm of the world’s largest online retailer Amazon Inc. in a board meeting held on Saturday.

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