Two Indian grocery retail chains, which rely on the franchisee route to operate neighbourhood convenience stores, are understood to have opened stake sale negotiations with Aeon Co, the Japanese retailing and financial services behemoth, which reported revenues of USD60 billion last year.
Aeon Co is a diversified conglomerate and operates in various retail segments ranging from supermarkets, convenience stores, department stores, small supermarkets, discount stores and drug stores, besides financial services. The company is focused on Asia, with operations spanning China, Vietnam, South Korea, Indonesia, Thailand, Taiwan, the Philippines and Malaysia, besides Japan. The company operates a liaison office in India.
(Source: Business Standard)