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Future Retail to launch FBB brand in Oman, other states of GCC

Press Trust of India  |  New Delhi 

Kishore Biyani-led will form a joint venture with Oman-based to take its 'fbb' brand fashion outlets to and other GCC countries.

has entered into a shareholders agreement with for formation of the company, the company said in the regulatory filing.

The 50-50 will operate "fbb" brand fashion outlets in and across other member states of GCC, it said.

The joint venture company is proposed to be incorporated in in which each party to the agreement shall subscribe 50 per cent of share capital.

As per the proposal, each party would have the right to appoint three directors on board of company.

stocks closed 1.93 per cent up at Rs 508.90 on BSE today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 20:55 IST