Tesco’s investment will be around £85 million. Completion of this transaction is subject to other necessary approvals.
On completion of the transaction THL will operate 12 stores retailing a range of merchandise including food and grocery, personal and home care products, home and kitchen, fashion and accessories etc. The stores are operated under the ‘Star Bazaar’ and ‘Star Daily’ banners, and spread across the Southern and Western regions of India.
Since 2008 Tesco has had a wholesale supply and franchise/technical service agreement to supply merchandise and provide technical knowhow and support to THL in India.
ADVERTISEMENT
