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Tesco confirms joint venture with Tata in India

Following its previous announcement and receipt of approval from the Indian Foreign Investment Promotion Board, Tesco announced last Friday that it had entered into an agreement with Trent Limited, part of the Tata Group, to form a 50:50 Joint Venture in Trent Hypermarket Limited (THL) which operates the Star Bazaar retail business in India. Tesco’s investment will be around £85 million.

Completion of this transaction is subject to other necessary approvals.

Please visit www.tescoplc.com for more information.