Key Points of Reliance Approval for Metro Acquisition :
- The article talks about Reliance Industries’ acquisition of Metro India’s wholesale operations, which will deepen RIL’s operations in India’s retail sector.
- The Competition Commission of India (CCI) has given its approval for the acquisition, which is worth INR 2,850 crore.
- Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL, will acquire a 100% equity stake in Metro Cash & Carry India Pvt Ltd.
- Metro India currently operates 31 large format stores in 21 cities and has over 3,500 employees.
- Metro India’s stores offer a range of products, catering to businesses such as hotels, restaurants, offices, small retailers, and kirana stores.
- Metro India has a reach of over 3 million B2B customers in India, out of which 1 million are frequent buyers, through its store network and eB2B app.
- The acquisition is expected to enhance RIL’s capabilities in the B2B segment and help it leverage Metro India’s customer base and retail expertise.
- The deal is aimed at strengthening RIL’s position in the retail sector and expanding its footprint across the country.
Details of Reliance Approval for Metro Cash Buyout:
Reliance Industries gets CCI Approval to acquire Metro India’s Wholesale Operations for INR 2,850 crore
The Competition Commission of India (CCI) has given its nod to Reliance Industries Ltd’s (RIL) INR 2,850 crore acquisition of Metro AG’s wholesale operations in India. RIL’s subsidiary, Reliance Retail Ventures Ltd (RRVL), has signed a definitive agreement to acquire a 100% equity stake in Metro Cash & Carry India Pvt Ltd, as part of its strategy to strengthen its position in India’s vast retail sector.
With over 16,600 stores, RIL is India’s biggest brick-and-mortar retailer. The acquisition of Metro India’s wholesale operations will further deepen its operations in the country. Metro India, which started its cash-and-carry business in 2003, currently operates 31 large format stores in 21 cities and has around 3,500 employees. The stores offer a range of products, including fruits and vegetables, general grocery, electronics, household goods, and apparel, catering to businesses such as hotels, restaurants, offices, small retailers, and kirana stores.
According to a statement by Metro India, the B2B cash-and-carry wholesaler has a reach of over 3 million B2B customers in India, out of which 1 million are frequent buyers, through its store network and eB2B app. In the financial year ended September 2022, Metro India generated sales of INR 7,700 crore, its best performance since its entry into India.
With this acquisition, RIL aims to strengthen its position in the retail sector and expand its footprint across the country. The deal is expected to further enhance RIL’s capabilities in the B2B segment and help it leverage Metro India’s customer base and retail expertise.
About Reliance Industries:
An Indian multinational conglomerate company headquartered in Mumbai, Reliance Industries operates a range of diverse businesses spanning energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.
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