Shoppers Stop extends its option of acquiring 51% of Hypercity
Shoppers Stop Ltd has announced that pursuant to an option agreement executed with the Promoters of HyperCity Retail (India) Ltd; (HyperCity), the Company had an option to acquire upto 51 percent of the Equity Share Capital of HyperCity. The Company had already acquired 19 percent of the Equity Share Capital of the said Hypercity. The option was valid till December 31, 2008.

Considering the present scenario, the Board of Directors of the Company, at its meeting held on December 18, 2008, thought it fit to request the Promoters for a further extension on the same terms till June 30, 2010. The Promoters of HyperCity have confirmed and agreed to the said extension.