Reliance's joint venture with Office Depot

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MUMBAI, April 22 - The retail unit of Reliance
Industries Ltd RELI.BO, India's largest listed firm, RELI.BO
said on Tuesday it had formed a joint venture with Office Depot
ODP to provide office products and services in India. The firms have also acquired eOfficePlanet, an Indian office
products and services dealer, to accelerate the rollout of the joint venture, they said in a statement.

No financial details were disclosed in the statement."The joint venture with Reliance and the strategic acquisition of eOfficePlanet will put Office Depot in a leadership position in India," said Charles Brown, President of Office Depot's International Division.

The firms said the Indian office products market was among the top 15 in the world. Reliance Retail, which runs 590 stores across 57 Indian cities, has already formed joint ventures with optical retailer Pearle Europe and Britain's Marks and Spencer MKS.L

Source: Office Depot

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