Reliance Retail gets approval to buy METRO | Jagran Business- Watch Video

16 Mar, 2023

Reliance Retail Ventures Limited on Thursday decided to buy Metro AG's India business for ₹2850 crore. Reliance Retail Ventures Limited has entered into an agreement to buy 100% stake in Metro Cash & Carry India Private Limited. Reliance Retail Ventures Limited, a subsidiary of Reliance Industries, is going to buy 100% stake in Metro Cash & Carry India for Rs 2850 crore.

According to Reliance Retail, they will have access to the stores situated in prominent Metro India locations as a result of this transaction. However, a significant number of authorised grocery stores and other institutional clients will also fall within its purview. It is anticipated that the robust Indian supplier network of Metro Cash & Carry outlets will greatly aid Reliance Retail in growing its retail operations.

Stefan Groebel, the global chief executive officer of Metro AG, stated a few days ago that the company is getting close to selling its Indian business and is getting ready to stop operations there. Stephen has suggested for the first time that Metro AG is planning to merge its Indian operations. Although, there hasn't been an official comment from him yet.

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