Foreign Investment Promotion Board (FIPB) has approved UK-based Tesco Plc’s proposal to invest $110 million to buy 50% stake in Tata Group’s Trent Hypermarket (THL). THL operates the Star Bazaar retail business and is a wholly owned subsidiary of Trent.
Tesco will invest $110 million in the company and the amount could be scaled up later depending on how operations expand in the initial three to four years.
Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.
