Bharti Group is in advanced talks to form a cash-and-carry JV with Carrefour, a French retailer.
The company may have 74 per cent stake in the venture. Carrefour's existing cash-and-carry business in India will likely be absorbed into the venture. Carrefour has five outlets in India. The French retailer will also invest in back-end support and commercial real estate companies owned by Bharti.
Bharti had already inked an exclusivity agreement with Carrefour for negotiations, and the agreement will expire in July 2014. However, both the companies are expected to finalise the deal sometime this month or in May 2014.
The venture will mark a return to the cash-and-carry business for Bharti - that sold its 50 per cent stake in the earlier venture with Walmart - to Walmart Stores Inc in October 2013.