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Metro Cash & Carry
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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They may not be converted into hypermarkets and supermarkets as many are on city outskirts
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
The Monsoon Session of Parliament will start on Monday and will see the election of a new President of India
The low-profile German cash & carry chain is suddenly finding itself at the centre of controversy as negotiations for the sale of its India business get underway
Thailand's CP Group, Reliance have submitted non-binding bids, according to people familiar with the matter; Amazon is also considering entering the race with an offer
Lightspeed is the second PE fund approached by Metro AG, apart from Samara Capital, say sources
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The German group has been completely focused on its European operations at a time when there have been quite a few setbacks
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In talks to buy a partial or full stake in German retailer's India unit
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Intends to raise $300-400 million as German parent unwilling to infuse fresh funds
The German retailer operates 31 cash-and-carry stores across India
The maker of Dairy Milk chocolates decided to cut margins by 25-30% for the German-headquartered company
METRO Cash & Carry India, the country's leading organised wholesaler, on Wednesday announced opening of a new store at Visakhapatnam, taking the total strore count to 29. The new store is the second METRO Wholesale in Andhra Pradesh after Vijaywada, which will help generate close to 500 direct and indirect employment opportunities, said a company statement. Spread over 50,000 sq.ft, the new store stocks a wide range of globally benchmarked quality assortment of over 7,500 products in both food and non-food category, it added. METRO Cash & Carry India MD and CEO Arvind Mediratta said Andhra Pradesh is a priority market for the company and would increase its footprint in the state. "We will continue investing to add more stores in the state, provide diverse product assortment and offer innovative digital solutions for an enhanced omni-channel experience for our customers, he said. The new store is integrated with METRO's B2B e-commerce app for traders and will offer the kirana ..