UK retail major Tesco announced forming of an equal joint venture with Trent Ltd, a part of the Tata Group, by picking up 50% stake in Trent Hypermarket Ltd for about $140 million. "Following its previous announcement and receipt of approval from the Indian Foreign Investment Promotion Board, Tesco has today entered
UK retail major Tesco announced forming of an equal joint venture with Trent Ltd, a part of the Tata Group, by picking up 50% stake in Trent Hypermarket Ltd for about $140 million.
"Following its previous announcement and receipt of approval from the Indian Foreign Investment Promotion Board, Tesco has today entered into an agreement with Trent Ltd, a part of the Tata Group, to form a 50:50 Joint Venture in Trent Hypermarket Ltd (THL)," the company said in a statement.
THL operates the Star Bazaar retail business in India.