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Bharti Group plans to form retail joint venture

Friday, 07 Mar 2014
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Bharti Group intends to form a new retail joint venture (JV), for which the firm is in talks with foreign companies.


Bharti Group is in discussions with two global retail chains -- French major, Carrefour, and Japan's largest retailer, Aeon, to form a JV. The new JV will cater to wholesale traders and to the back-end of the retail chain selling to individual consumers. Discussions with Carrefour are at an advanced stage. However, talks are on hold due to the entry of Japanese retailer, Aeon.


The new partner will replace Walmart, with which Bharti had had a strategic partnership till October 2013.


Carrefour, which has five cash and carry stores in India, will fold this business unit into a JV with Bharti, if it emerges as the Indian company's partner in the retail sector. Carrefour will also invest in back-end support and commercial real estate companies owned by Bharti.


 

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