Pantaloon Retail to form JV with UK co

Mumbai: Retail major, Pantaloon Retail India Ltd today said it will form a 50-50 joint venture company with UK-based Alpha Airports Group PLC, to develop travel retail and food catering business in airports across the country.
The board of directors at its meeting recently approved an memorandum of understanding with alpha airports group, Pantaloon Retail informed the Bombay Stock Exchange.
A dividend of Rs 2.50 on shares of Rs 10 each (25 per cent) was also declared by the board, it added.
Alpha airports group operates over 150 shops in 15 countries with an annual turnover of over 880 million dollar and has been operating duty-free shops at cochin international airport since 2002.
03/10/06 Zee News

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