News: Pantaloon Retail in pact with Talwalkars

(BL 08/06/2006) Mumbai - Country's leading retailer, Pantaloon Retail India Ltd has decided to form a 50:50 joint venture company with Talwalkars Better Value Fitness Pvt Ltd.

The company has entered into a memorandum of understanding with fitness centre chain Talwalkars to form the JV company, Pantaloon Retail informed the Bombay Stock Exchange.

The JV would engage in retailing fitness related products and provide health and fitness related services, it added.

Pantaloon Retail India, whose shares were trading at Rs 1,250, down 11.18 per cent at the BSE, has a retail presence across various segments including food, fashion and footwear, home solutions, consumer electronics, wellness and beauty.