LuLu Group International

Select Language Afrikaans Albanian Arabic Armenian Azerbaijani Basque Belarusian Bulgarian Bengali Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish Dutch English Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hebrew Hindi Hungarian Icelandic Indonesian Irish Italian Japanese Javanese Kannada Khmer Korean Latvian Lithuanian Macedonian Malay Maltese Marathi Nepali Norwegian Persian Polish Portuguese Punjabi Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Tamil Telugu Thai Turkish Ukrainian Urdu Vietnamese Welsh Yiddish

This is a collection of articles archived for the excellence of their content. Additional information may please be sent as messages to the Facebook community, Indpaedia.com. All information used will be gratefully acknowledged in your name.

YEAR-WISE DEVELOPMENTS

2020

Abu Dhabi royal invests ₹7,600cr

Shenoy Karun, April 22, 2020: The Times of India

An Abu Dhabi investment firm, led by Sheikh Tahnoon Bin Zayed Al Nahyan of the ruling family, invested nearly $1 billion (Rs 7,600 crore) in LuLu Group International, the holding company of LuLu hypermarkets, according to a source with knowledge of the matter. Sheikh Al Nahyan is the son of the UAE founder Sheikh Zayed bin Sultan Al Nahyan and currently serves as the country’s national security adviser.

“This is the first time somebody is investing in LuLu Group and they are picking roughly 20% shares in the company, excluding Indian operations,” the person told TOI. The group operates 188 hypermarkets and supermarkets across the Middle East, India and Far East. Considered to be the single largest employer of Indians outside India, the retailer has more than 30,000 Indians on its pay rolls.

Lulu Group was founded by Indian entrepreneur M A Yusuffali, who hails from Thrissur, Kerala. Apart from shopping malls, Ali also owns premium hotels across the Middle East and Europe. In 2019, the company had a turnover of $7.4 billion and had a daily average footfall of more than 16 lakh.

When contacted, V Nandakumar, spokesperson for the group, declined to comment on the deal.