Trent spirals up on Landmark acquisition

DALAL STREET SPIKES

The retail major, Trent Ltd jumped 11.7 per cent to a lifetime high of Rs 920 after the company said it has acquired a controlling stake of 76 per cent in the books and music retailer, Landmark. The deal was supposedly fixed for an amount of Rs 103.60 crore.

"The deal is expected to strengthen Trent's books and music distribution and enable it to enter the segments in a big way and compliments is apparel and home accessories retailing," a dealer said. Landmark and its subsidiaries have posted a turnover of Rs 95 crore in fiscal 2004-05.