Trent to take over TVS Shriram

Trent’s board has approved a proposal to buy private equity fund TVS Shriram

Growth Fund’s entire stake in Landmark for Rs 84 crores. Tata Group’s retail arm, Trent runs the lifestyle chain Westside (one of India's largest and fastest growing chain of lifestyle retail stores), Star Bazaar (a hypermarket chain), Landmark (a books and music chain) and Fashion Yatra (a complete family fashion store).

The board of directors has approved the purchase from TVS Shriram Growth Fund’s entire shareholding of 18,25,074 equity shares of Rs 10 each of Landmark (a subsidiary of the company). It has also been agreed between the parties that the fund would retain an option to invest in a minority stake in Westland Limited (also a subsidiary of the company) at a future date.

The release sent to exchanges says, the company would continue to pursue the build out of the Landmark format, increasingly focusing on family entertainment categories and seek to integrate these operations with the Westside business. TVS Shriram Fund will retain an option to invest in Westland for a minority stake at a future date.