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Spencer's in talks with Amazon, other investors for minority stake sale

Spencer's is expected to be demerged from its mother company -- CESC Ltd -- shortly and this is when it will have to arrange for its own funds to keep its hold onto the retail space

Spencer
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Spencer

Avishek RakshitIshita Ayan Dutt Kolkata
RP-Sanjiv Goenka’s food and grocery retail chain, Spencer’s Retail, is in talks with multiple players, including Amazon, for offloading a minority stake. Sources said talks were at preliminary stage and discussions were being held with more than one entity. It was understood that Amazon was one of players that Spencer’s was in talks with.

Asked whether Amazon is looking at a minority stake in Spencer’s, Shashwat Goenka, sector head of Spencer’s Retail, said, “We keep exploring multiple things but I cannot comment on anything unless it materialises. We are open to opportunity and at any given time we are exploring

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First Published: Aug 31 2018 | 2:17 AM IST

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