Carrefour in talks with HDFC for India retail venture - report |
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Published
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Tue, 06 Mar 2007 04:54
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BOMBAY (XFN-ASIA) - France's Carrefour SA is in talks with Housing Development Finance Corp (HDFC) for a planned Indian retailing venture, the Economic Times reported, citing unnamed sources.As regulations do not permit HDFC to get into retailing directly, the Indian housing finance major may float a separate holding company, may be a private-equity fund, which would in turn tie up with a third entity for getting Carrefour's franchising rights for India, the report said.Carrefour is interested in a tie-up with HDFC because of the latter's close association with real estate developers, it said.HDFC executive director Renu Karnad told the paper that 'nothing like this is on at this point of time', while Carrefour India head Freis Muth declined to comment.rc/
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Carrefour poised to sign distribution agreement with India - minister 