INDIA: Reliance Retail eyes foreign buy – report
According to Indian reports, in a move to strengthen its retail business Reliance Industries is plotting an overseas acquisition.
A Reliance management team recently visited the UK and US, the Business Standard reported. Reliance is said to have held discussions with a handful of second-tier companies, including Sainsbury's.
A spokesperson for the UK retailer declined to comment on the rumour.
Sources close to Reliance have said that the group is interested in an outright acquisition, not a strategic tie-up. However, it has also been suggested that the group may be in advanced discussions with the retail giant Carrefour with a view to establishing an Indian joint venture.
Carrefour has extended its distribution network in Romania with a deal at southern Europe's largest logistics site, Cefin Logistics Park. The retail giant is planning to build up a network of regional...
Delta Two, the Qatar-backed private equity group looking to buy Sainsbury's, looks ready to change the structure of its proposed takeover bid to win over the UK retailer's board....
Sainsbury's Middle Eastern suitor has armed itself with a US$3 billion warchest, reports said yesterday (3 September)....
Sainsbury's and the Qatari-backed investment group Delta Two look to be getting closer to reaching agreement on the composition of the latter's mooted GBP10.4m (US$21bn) takeover of the UK supermarket...
French retail giant Carrefour is to sell off part of its property portfolio through an IPO slated for next year. The decision from Carrefour, announced this morning (30 August), comes after months of ...
A fresh set of talks between UK retailer Sainsbury's and suitor Delta Two, the Qatari-backed investment fund, have been scheduled after a round of discussions earlier this week....
Guyenne & Gascogne, the largest franchisee of French retailer Carrefour, has seen first-half group profits fall by almost 5%....
Carrefour has confirmed it has uncovered malpractice among its management in China amid reports that eight managers have been arrested for allegedly accepting bribes....
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