Those in the know say that the process of engaging with an investor will take a while.
Metro Cash & Carry is looking at raising $300-400 million from a strategic investor after its German parent Metro AG declined to infuse fresh funds for its expansion in India.
The company is willing to offer control and has asked merchant bankers J P Morgan and Goldman Sachs to identify prospective investors, though no detailed negotiations have started with anyone for the $2 billion valuation it expects, sources said.
These bankers have been looking for investors since January when the Indian operations finalised their cash requirement for expansion and taking on the competition, with the help of Bain & Co.
First Published: May 21 2022 | 06:01 AM IST