Future Retail, 7-Eleven scrap agreement for India

Future 7-India Convenience Limited, Future Retails wholly owned subsidiary, and 7-Eleven Inc have mutually terminated the agreement to execute 7-Eleven stores in India.

The master franchise agreement was originally executed for developing and operating 7-Eleven stores within India.

The termination has been with mutual consent as Future-7 was not able to meet the target of opening stores and payment of franchisee fees.

"No financial or business impact on the Company as this arrangement was at subsidiary company level," Future Retail said in an exchange filing - IANS