INDIA: Pantaloon, Carrefour “near tie-up” – report
By: just-food.com | 2 June 2009
India's largest retailer, Pantaloon Retail, and French retail giant Carrefour are reportedly nearing an equity partnership agreement.
According to a report in India's Business Standard, Carrefour is preparing to take a stake in Future Fashion Merchandise, a Pantaloon subsidy created following the restructuring of its retail operations.
Rules on foreign direct investment in India prohibit foreign companies from owning multi-brand retail outlets, forcing international conglomerates to forge partnerships with local retailers.
Carrefour has previously signalled its intention to set up a cash and carry wholesale chain in India, which is allowed under FDI regulations.
Sectors: Emerging markets, Retail
Companies: Carrefour, Pantaloon Retail
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INDIA: Pantaloon, Carrefour “near tie-up” – report
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