Metro Cash & Carry

Last December, Reliance Retail Ventures acquired Metro Cash and Carry India for Rs 2,850 crore

German retailer METRO AG on Thursday announced the completion of the sale of its Indian cash & Carry business to Reliance Retail Ventures Ltd (RRVL), which holds the retail empire of Reliance Industries Ltd. The deal includes all 31 wholesale stores operated by METRO Cash & Carry India and the entire real estate portfolio (6 store-occupied properties) to RRVL, said Metro AG in a statement. "METRO India will complement Reliance Retail's retail network in the future," it said. As per the deal, "all METRO India stores will continue to operate under the METRO brand during an agreed transition period." However, it also added, "For METRO employees and METRO customers, there will be no noticeable changes for the time being." Earlier on Dec 22 METRO and RRVL had announced the deal, as part of which billionaire Mukesh Ambani led firm will acquire German firm wholesale operations in India for Rs 2,850 crore. The deal will help Reliance Retail to strengthen its dominant position in ...

METRO India began operations in India in 2003 and was the first company to introduce a cash-and-carry business format in the country

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The acquisition is expected to strengthen Reliance Retail's physical store footprint across the country

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Reliance Industries is set to acquire German retailer METRO AG's Cash & Carry business in India in a deal estimated at around 500 million euros (Rs 4,060 crore), industry sources said. The deal includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry here, they said. This is going to help Reliance Retail, the country's largest retailer, expand its presence in the B2B segment. Discussion between billionaire Mukesh Ambani-led Reliance Industries and METRO was going on for the past few months and last week the German parent firm agreed to the offer from Reliance Retail, they added. When contacted, both METRO and Reliance Industries declined to comment on the development. A Reliance spokesperson said, "Our company evaluates various opportunities on an ongoing basis." METRO AG's spokesperson said, "We do no comment on market rumour or speculations." METRO Cash & Carry's customers include retailers and kirana stores, hotels, restaurants

Thailand's CP Group has placed a bid of about Rs 8,000 crore, or $1 billion, to acquire Metro Cash & Carry India

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The German retailer operates 31 cash-and-carry stores across India