Tesco confirms joint venture with Tata in India

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Tesco confirms joint venture with Tata in India

<p><a href="http://news.yahoo.com/tesco-confirms-joint-venture-tata-india-122039442--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/S4wwYmefO5Yp1LQN3W8jTg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-03-21T122039Z_1_CBREA2K0YAK00_RTROPTP_2_BRITAIN-RETAIL-GROCERS.JPG" width="130" height="86" alt="A Tesco logo is seen on a branch of the Tesco Express convenience store in central London" align="left" title="A Tesco logo is seen on a branch of the Tesco Express convenience store in central London" border="0" /></a>Britain's Tesco has sealed a joint venture agreement with a unit of India's Tata Group that will see it invest $140 million and become the first foreign supermarket to enter the country's $500 billion pounds retail sector. Tesco said on Friday that following receipt of approval from the Indian Foreign Investment Promotion Board, it has entered into a deal with Trent Limited to form a 50:50 joint venture with the operator of the Star Bazaar retail business, Trent Hypermarket Limited (THL).</p><br clear="all"/>

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