Pantaloon Retail (India), the flagship company of the Future Group, has in a filing with the National Stock Exchange mentioned that it has divested its stake in its joint venture firm with British airport retailer Alpha Group Plc - Alpha Future Airport Retail Private Ltd.

According to the company, it has divested its holding in Alpha Future Retail Pvt in favour of Alpha Overseas Holdings Ltd. The retail company has now moved out of the joint venture following divestment of the stake.

Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. The company operates over 11 million square feet of retail space, has over 1000 stores across 63 cities in India and employs over 30,000 people.

Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space.

Courtesy: Pantaloon Retail

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Posted by Naresh Koshti on 20 November, 2008 11:07:00 AM IST #