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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 CET

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; rumman.ahmed@dowjones.com

Stocks mentioned in the article : Staples, Inc., Pantaloon Retail (India) Limited
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Financials ($)
Sales 2017 20 254 M
EBIT 2017 935 M
Net income 2017 -356 M
Debt 2017 85,3 M
Yield 2017 5,15%
P/E ratio 2017 -
P/E ratio 2018 10,12
EV / Sales 2017 0,30x
EV / Sales 2018 0,29x
Capitalization 6 037 M
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Average target price 9,91 $
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Shira D. Goodman President, Chief Executive Officer & Director
Robert E. Sulentic Independent Chairman
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Faisal Masud Chief Technology Officer
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