Monday, December 11, 2006

Reliance keen on acquiring Maratha Stores

The Economic Times reports that Reliance Retail is looking to build its portfolio and is keen on acquiring Maratha Stores, a Mumbai based cooperative chain store. According to source, Reliance is interested in the company due to the large amount of real estate space that it owns in Mumbai, besides the 20 outlets it operates.

In total Maratha Stores has close to 75,000 sq ft of space, a majority of which is in prime commercial areas. Maratha Stores has small neighborhood stores of 500 sq ft and larger outlets of 7,000 sq ft. Reliance is looking to use the 500 sq ft stores to enter

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