Lawson eyes tie up with Future Group

15 November 2011: Lawson Inc, Japan's second-largest convenience store chain, has appointed audit and consultancy firm PwC to carry out due diligence on a number of unlisted companies of the Future Group that supply fruit, vegetables and staples for India's largest retailer.

If the deal fructifies, the $25-billion (approx `1,25,900 crore) Japanese retailer will invest in a holding company that will control six other companies of the Indian retailer that supplies to formats Big Bazaar, Food Bazaar, KB FairPrice and Aadhaar. The combined businesses of all these entities - both back and front end - are estimated at over 3,000 crore. The government is also considering a proposal to open the retail sector to FDI.

Source: Economic Times