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Our Bureau

Mumbai, April 9

The Tata Group company Trent Ltd has informed the BSE that it has entered into an agreement with the Xander Group Inc, a global private equity firm. The Xander Group Inc will through one or more of its fund vehicles invest in the development of an institutional retail real estate portfolio in India in partnership with Indian developers.

The company would have anchor tenancy rights and obligations and would participate with Xander in the management of such portfolio and its growth. The arrangement will be of considerable help to the company in its growth plans in the retail sector, including through its current formats such as Westside, Landmark and Star India Bazaar. The Trent scrip rose by 1.07 per cent to close at Rs 707.50 on the BSE.

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