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Amazon sells 4% stake in Indian retail chain for $33m
Amazon has sold its nearly 4% stake in Indian retail chain Shoppers Stop for 275.88 crore rupees (US$33.11 million) through a block deal on December 18.
According to National Stock Exchange (NSE) data, Amazon.com NV Investment Holdings sold 43.95 lakh rupees (US$52.470) shares at 627.6 rupees (US$7.53) each.
Morgan Stanley Asia Singapore, Kotak Mahindra Mutual Fund, Tata Mutual Fund, and 360 One purchased these shares at the offered price.
Amazon initially acquired a 5% minority stake in Shoppers Stop in 2017 for 179.25 crore rupees (US$21.5 million).
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