Cedar Support Services today sold nearly 14 per cent stake in homegrown retail major Future Enterprises for Rs 243 crore, through open market transactions.
According to the bulk deal data available with the BSE, Cedar offloaded 6.19 crore shares, amounting to 13.64 per cent stake in Future Enterprises.
The shares were disposed of at an average price of Rs 39.21, valuing the transaction at Rs 242.78 crore, the data showed.
Among the buyers of the shares were Future Enterprises' promoter Central Departmental Stores and Bennett, Coleman & Company.
Central Departmental Stores bought 2.22 crore shares, or 4.9o per cent stake in the firm for Rs 87.22 crore.
Bennett, Coleman & Company picked up 3.85 crore shares, amounting to 8.48 per cent stake, for Rs 150.99 crore.
Future Enterprises' shares settled 9.44 per cent higher on the BSE at Rs 42.90 apiece today.
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