Arisaig India acquires 2.36 percent additional stake in Trent

Arisaig India Fund has for the second time,

acquired an additional 2.36 percent stake in Tata’s retail arm Trent. This takes the fund’s total stake in the company to 9.88 percent. As per sources, the deal amounts to Rs 116.2 crores as per Tuesday’s closing price of Rs 941.25.

The PE investor picked 12 lakh shares of Trent that owns the Westside and Star Bazaar chain of stores, as per a filing on the BSE. Arisaig India Fund is a registered Singapore headquartered FII and part of Arisaig Partners, that has an exclusive focus on domestic consumer sectors in countries like Singapore, India, China, South Africa, Brazil and UK.

In July, Arisaig Partners picked up a 3.47 percent stake in McDonald’s franchisee Westlife Development for Rs 180 crores. The fund also bought 1.3 crore shares of Future Ventures India for Rs 13.73 crore, earlier this year. In February, Trent bought back TVS Capital’s stake of 25 percent in its Landmark subsidiary for Rs 84 crores. TVS had invested Rs 65 crores in Landmark in November 2009.