Metro Cash & Carry Reliance Industries to acquire B2B retailer METRO Cash & Carry India: Report
Reliance Industries is set to buy German B2B retailer METRO AG's Cash & Carry business in India for an estimated 500 million euros or Rs 4,060 crore, according to a report in the media.
This would enable Reliance Retail to step into the B2B sphere, an expansion that would follow after months of discussion between billionaire Mukesh Ambani-led Reliance Industries and METRO, said the report.
With the deal, METRO Cash & Carry's 31 wholesale distribution centres, land banks and other assets owned in India, the report said quoting sources.
The retail arm of the oil-to-telecom conglomerate is the biggest in India.
METRO AG, which entered the Indian market in 2022, operates in 34 countries.
It operates stores in major metro cities of India, including Bengaluru, Hyderabad, Mumbai, Delhi, and Kolkata, apart from several Tier II cities across India.
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