Future Group in Talks With Lawson to Sell Stake in Unit - Report
![A trolley laden with fresh and processed food sits parked in an aisle as customers shop at a supermarket in Mumbai May 30, 2011.](https://d.ibtimes.com/en/full/59581/trolley-laden-fresh-processed-food-sits-parked-aisle-customers-shop-supermarket-mumbai-may.jpg?w=736&f=d9dbe99adfbf251c28bcf8b29e42f6aa)
Future Group, which owns the Pantaloon Retail chain, is in talks with Japan's convenience store chain Lawson Inc to sell a 49 percent stake in its foods sourcing and manufacturing operations, the Economic Times reported.
Future Group has signed a memorandum of understanding to form a joint venture with Lawson that could see Japan's No. 2 convenience store chain buy into a holding company controlling many of Future's foods businesses, the newspaper said on Wednesday, citing sources.
Future Group and Lawson could not immediately be reached by Reuters for a comment.
Financial terms of the planned joint venture have not been finalised yet, one of the sources told the Economic Times, adding the Japanese firm could invest about 30 billion rupees ($624 million) in the first tranche of funding.
In June, Lawson said it planned to step up its overseas expansion to tap strong growth in Asia.
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