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21.06 10:07:18

Future Group looks to sell stake in Staples JV - India

Future Group is also looking to reduce its stake in Staples Future Office Products (SFOP), a joint venture between the company and the Indian arm of Staples, according to India’s Business Standard.

Future Group owns Pantaloon Retail, India’s largest retail company, which entered a joint venture with Staples Offices Products with the aim to become the largest office products company in India across Retail, Delivery and Online channel.

Pantaloon Retail Joint Managing Director Rakesh Biyani said: "We are looking at opportunities to raise money by selling stakes in non-core retail businesses."

He did not provide any timeline or specific details of the proposed transactions.

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