INSIGHTS
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
Tesco forms joint venture with Trent for multi-brand retail in India
Date: 2014/03/25
Source: Retail in Asia
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.