Shoppers Stop to terminate JV for 'Timezone'

Signs SPA for sale of 2.52 crore equity shares of Timezone

Shoppers Stop announced that a Share Purchase Agreement (SPA), has been executed by and between the Company (Seller 1) and Louisiana Investment & Finance (Seller 2) for sale of 2,52,42,946 Equity Shares of Rs. 10 each of Timezone Entertainment (Timezone) to Timezone West Asia (Purchaser) on the terms and conditions as contained in the SPA.

On fulfillment of the terms and condition of the SPA, the joint venture agreement executed in respect of 'Timezone' shall stand terminated.

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