Japan's Mitsubishi Corporation has sprung a surprise on Kishore Biyani by asking for a piece of Big Bazaar, Future Group's flagship retail business.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
The two sides discussed the issue in the US last week and the Japanese company even suggested a convertible structure that would allow an equity exposure in Big Bazaar, as and when foreign direct investment was allowed in multi-brand retailing.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
The two sides discussed the issue in the US last week and the Japanese company even suggested a convertible structure that would allow an equity exposure in Big Bazaar, as and when foreign direct investment was allowed in multi-brand retailing.
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