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.
A Reliance spokesperson said, "Our company evaluates various opportunities on an ongoing basis."
METRO Cash & Carry's customers include retailers and kirana stores, hotels, restaurants and caterers (HoReCa), corporates, SMEs, companies and institutions.
The B2B segment is considered to be a low-margin business and multinationals such as Carrefour have exited from the country in 2014.
In July 2020, e-commerce major Flipkart Group acquired 100 per cent stake in Walmart India Pvt Ltd, which operates the Best Price cash-and-carry business.
Source: BusinessToday
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