Pantaloon sets up subsidiary for retail business

New Delhi, Jan 22 (UNI) Pantaloon Retail India Ltd today said its board has approved setting up wholly owned subsidiary Companies for Big Bazaar and Food Bazaar, speciality retail business activities and property and mall management division.

The company, in a statement said, it will transfer the respective businesses of the Company on a going concern basis to the respective subsidiaries.

This is subject to receipt of all requisite statutory and other necessary approvals, the statement added.

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