Amazon.com NV Investment Holding has acquired a 26 per cent stake in Westland, a wholly owned subsidiary of Trent, the retail arm of the Tata group, for Rs 9.5 crore.
The investor would subscribe to Westland’s share capital such that it holds around 26 per cent of the Westland's share capital on a fully diluted basis, for an aggregate amount of approximately Rs 9.5 crore.
The parties have entered into the shareholders agreement to provide for their respective rights and obligations regarding Westland, Trent said.
Given investors’ extensive experience in books and digital platforms, the investment would facilitate Westland to take Indian authors and their works to a far wider audience, Trent said.
Published 11 February 2016, 17:38 IST