Arisaig India Fund acquired an additional 2.36% stake in Tataís retail arm Trent, taking the fundís total stake in the company to 9.88%. The deal amounts to R116.2 crore as per Tuesdayís closing price ó R941.25 ó as details regarding the date of share purchases and the price at which they were bought could not be ascertained.
The fund bought 12 lakh shares of Trent ó that owns the Westside and Star Bazaar chain of stores ó in tranches, as per a filing on the BSE.
Arisaig India did not respond to an email seeking response on the date of the tranches, and the price at which they were bought. Arisaig India Fund is a registered Singapore headquartered FII and part of Arisaig Partners, that has an exclusive focus on domestic consumer sectors in countries like Singapore, India, China, South Africa, Brazil and UK.
In July, Arisaig Partners picked up a 3.47% stake in McDonaldís franchisee Westlife Development for R180 crore. The fund also bought 1.3 crore shares of Future Ventures India for R13.73 crore, earlier this year.
In February, Trent bought back TVS Capitalís stake of 25% in its Landmark subsidiary for R84 crore. TVS had invested R65 crore in Landmark in November 2009.
Trent shares closed down 1.35% at R941.25 on Tuesday on the BSE.