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4-Traders Homepage  >  Equities  >  Nasdaq  >  Staples, Inc.    SPLS

STAPLES, INC. (SPLS)
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Pantaloon Retail: Not In Deal To Sell Stake In Staples Joint Venture

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03/01/2012 | 02:20pm CEST

Pantaloon Retail (India) Ltd. (523574.BY) said Thursday it hasn't entered into any transaction to sell its stake in a joint venture with Staples Inc. (>> Staples, Inc.) to the U.S.-based office-supplies retailer.

"The company shall inform about any firm and binding decision no sooner approved by the board, to the regulators and the shareholders," Pantaloon Retail said in a notice sent to the stock exchanges.

The notice comes in response to an Economic Times report, citing two unidentified analysts, that said Pantaloon is planning to sell its stake in a deal which could fetch the company about INR2 billion ($41 million).

As of March 31, 2011, Pantaloon held a 39.49% stake in the joint venture with Staples, the newspaper reported.

-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173; [email protected]

Stocks mentioned in the article : Staples, Inc., Pantaloon Retail (India) Limited
Stocks mentioned in the article
ChangeLast1st jan.
FUTURE ENTERPRISES LTD -2.08% 37.65 End-of-day quote.-22.37%
STAPLES, INC. 0.00%-End-of-day quote.0.00%
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Staples, Inc. Technical Analysis Chart | SPLS | US8550301027 | 4-Traders
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Managers
NameTitle
J. Alexander M. Douglas Chief Executive Officer
John Anthony Lederer Executive Chairman
Pragati Mathur Chief Information Officer
Jeffrey L. Hall Chief Administrative Officer & Vice Chairman
Stefan L. Kaluzny Director
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