Nahar, Trent's unit, signs term sheet to sell 100% of Netria
TRENT · price
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Nahar Retail Trading Services, Trent's wholly owned unit, signed a binding term sheet to sell all 100% of Netria Property Holdings to TreBits Investment Trust. Completion needs final documents, the trust's first scheme public offer and closing conditions. Consideration is Rs 11.25 per share, subject to working capital adjustments, plus repayment of about Rs 171.91 crore in loans and accrued interest. Trent will continue to lease the premises.
The sale could unlock cash, but completion and economics are uncertain pending final documents, the trust's public offer and closing conditions.