Friday, November 16, 2007

Pantaloon Sports business to split off from Pantaloon Retail

I got this very small but seemingly important news for the Sports and Retail world. Pantaloon Retail India Ltd declared a decision of their board that they are going to spin off the Sports business of its joint venture Planet Retail Holdings into a separate entity.

(just for info- A spin-off (or spinoff) is a new organization or entity formed by a split from a larger one).

The board also approved setting up a joint venture with National Textile Corp for modernization and development of two of its mills, it said in a statement.

Very small news right?? But also quite important...
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