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Future Group, Carrefour to ink pact on JV

Future Group, Carrefour to ink pact on JV
PTI
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First Published: Thu, Dec 09 2010. 02 58 PM IST
Updated: Thu, Dec 09 2010. 02 58 PM IST
New Delhi: Home grown retail giant Future Group is to join hands with Carrefour to bring the French retailer to India.
According to sources in the know of the development, a deal on this effect is likely to be signed within next 2-3 months.
“Future Group chief Kishore Biyani is currently in Paris to finalise the details,” a source said.
However, it is not clear who will hold how much stake in a joint venture proposed to be formed by the two partners.
The world’s biggest retail giant after Walmart, Carrefour, has been scouting for local partners for its franchise retail operations in India.
At present, India allows only 51% foreign investment in single-brand retail and none in multi-brand retailing.
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First Published: Thu, Dec 09 2010. 02 58 PM IST