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24 March 2014

Tesco announces joint venture with Tata in India

Tesco has entered into an agreement with Trent Limited, part of the Tata Group, to form a 50:50 joint venture in Trent Hypermarket Limited (THL), which operates the Star Bazaar retail business in India.
The UK retailer will invest around £85m in the business.

Completion of the deal is subject to the necessary approvals.

Once the deal is completed, THL will operate 12 stores selling a range of merchandise including food and grocery, personal and home care products, home and kitchen, fashion and accessories.

The stores are run under the Star Bazaar and Star Daily banners and extend across the Southern and Western regions of India.

Tesco has had a wholesale supply and franchise/technical service agreement to supply merchandise and provide technical knowhow and support to THL in India since 2008.
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https://www.acr-news.com/tesco-announces-joint-venture-with-tata-in-india