Trent’s arm inks JV pact with Tesco

24 Mar 2014 Evaluate

Trent Hypermarket, wholly-owned subsidiary of listed entity Trent has entered into an equal joint venture (JV) with the British retail chain, Tesco. Following the development, Tesco is planning to invest Rs 850 crore by picking up a 50 per cent stake in the Indian retailer.

On completion of the transaction, the retailer will operate 12 stores selling a range of merchandise, including food and grocery, personal and home care products, home and kitchen, fashion and accessories in stores operated under the ‘Star Bazaar’ and ‘Star Daily’ banners, across the Southern and Western regions of India.

Currently, Trent Hypermarket sells Tesco products through Star Bazaars, with the latter advising the retailer on various business aspects. Trent Hypermarket is a wholly-owned subsidiary of listed entity Trent, which owns and runs departmental stores such as Westside, Landmark, Star Bazaar and Star Daily.

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