| Kippreport.com

French retailer Auchan eyeing India JV

February 13, 2012 2:14 by Reuters

A deal would depend on whether India moves ahead with plans to allow foreign companies into multi-brand retail, the newspaper said, quoting two unnamed people familiar with the talks.

India suspended plans to open its $450 billion supermarket sector to foreign firms in the face of a huge political backlash last December.

Auchan, controlled by France’s Mulliez family, competes with listed rivals Carrefour and Casino. It may sign a franchise agreement with Landmark until the Indian rules are relaxed, the newspaper said citing another source.

Landmark runs the Dutch retail chain Spar in India, after the companies signed a licensing agreement in 2007. The agreement will end this year, the paper said.

Reuters could not immediately reach the Landmark Group and Auchan for a comment. (Reporting by Nandita Bose; Editing by Ranjit Gangadharan) *image from acrossmagazine.files.wordpress.com

Tags: Auchan, France, India, JV, retailer