Mukesh Ambani’s Reliance group is talking to Carrefour of France — world’s second largest retail company — as also other global players for acquiring controlling stake to reach out to international consumers with its basket of Indian food produce. Reliance Industries (RIL) is looking to create international business arms for accessing global markets by leveraging on its supply chain. Besides Carrefour, Reliance is also talking to tier-II companies for food business, sources said. When contacted, an RIL spokesperson in Mumbai declined to comment.Sources familiar with the development, however, said that top officials of RIL are already shuttling between continents to work out details for a deal, which could be through direct equity participation, a joint venture or outright acquisition. An announcement on the progress related to the group’s global retail foray is expected at RIL’s next AGM, possibly in June. French billionaire Bernard Arnault recently bought a 9.8 per cent stake in Carrefour, prompting speculation of a buyout attempt. Speculation is rife that the Halleys, who owns about 13 per cent of Carrefour, might sell their stake.With the launch of food format stores — Reliance Fresh in November last year, Mukesh Ambani kicked off the pledged investment of Rs 25,000 crore in the retail business. Asked whether Reliance had approached it, a spokesperson for J Sainsbury Plc said: “As a matter of policy, we do not comment on market speculation.” Meanwhile, British media reports said that four private equity firms — CVC Capital Partners, KKR, Blackstone and Texas Pacific — have jointly offered an $18.3 billion bid for acquiring Sainsbury, UK’s third largest supermarket chain with 769 stores.
