Mukesh Ambani desperate to get into Metro India business, deal could be final for 8200 crores
Recently, sources have reported that Mukesh Ambani’s Reliance is moving towards acquiring a larger portion of German-based Metro AG’s Indian cash and carry business. Interestingly, other companies that were on the list to acquire this cash and carry business have already pulled out. The acquisition has already been discussed between the two companies at an early stage. One of Mukesh Ambani’s objectives is to conquer the market of the huge distribution sector of the country.
According to sources, it will be clear if Metro AG’s Indian cash and carry business will come to Reliance by November. Despite this speculation, no representative of the two organizations has spoken to the media about it yet.
A few days ago, it became known that Charoen Pokphand Group was running this business. But for the moment he is no longer in this race. Amazon was also interested but later showed no interest in the matter. Accordingly, it is understood that Mukesh Ambani’s company can acquire him without any competition. The acquisition deal could be between $1 billion and $1.5 million, or more than Rs 8,200 crore in Indian currency. But for now officials from both companies are reluctant to open their mouths about the deal or the amount of the deal.
Incidentally, Metro Cash and Carry entered India in 2003. Currently, this company has 31 wholesale centers across the country. The company sells products to more commercial customers and retailers such as hotels and restaurants. Accordingly, it is understood that if Mukesh Ambani acquires all of these, a large portion of the retailers will pass into the hands of Reliance.
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