Reliance acquires Metro AG’s India business for Rs 2,850 crore.
Reliance Retail Ventures Limited 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.
With this acquisition, billionaire Mukesh Ambani, the head of Reliance, wants to strengthen its dominant position in India’s retail giant.
Reliance Retail can register improvement in supply chain network, technology platform and sourcing capabilities with this acquisition. The acquisition of Metro AG is yet to undergo regulatory approvals and other due process and is expected to be completed by March 2023.