Amazon picks 26% stake in Westland
Tata Group’s retail firm Trent Ltd has announced that online retail giant Amazon has taken 26% stake in Westland, its publishing arm, in a deal worth Rs. 9.5 crore.
Westland is a wholly owned subsidiary of Landmark, which is an amalgamation of two companies, EastWest Books and Westland Books, which were merged to form Westland in April 2008. The publisher has published some of India’s bestselling authors, including Ashwin Sanghi, Amish Tripathi and Devdutt Pattanaik.