Tesco Completes Joint Venture with Tata in India

RNS Number : 7561I

Tesco PLC

03 June 2014

TESCO COMPLETES THE ESTABLISHMENT OF JOINT VENTURE WITH TATA IN INDIA

Following the previous announcement and receipt of requisite approvals, Tesco has completed the establishment of a 50:50 Joint Venture with Trent Limited, part of the Tata Group. The Joint Venture company, Trent Hypermarket Limited (THL), operates the Star Bazaar retail business in India.

Notes to Editors:

§ There have been no material changes to the terms of the investment agreement as previously advised in the announcement of 21 March 2014.

§ THL has 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.

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