8 September 2021
The Weekly
India

Shoppers Stop shall divest 51% stake in Crossword Bookstores, an operation that is expected to be completed within 15 days, and another 39% stake will be divested in the next 12 months. The business of Crossword Bookstores is valued at ₹41.6 crore (US$453 mn). Under the agreement, ABH will take over all the assets and brand. The sale of the Crossword Bookstores is consistent with the company's strategic plans, which is to focus on its core business and expand its strategic pillars viz, First Citizen, Private Labels, Beauty and most importantly, its omnichannel business.

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