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The Metro Cash and Carry market in the hands of Reliance? Find out how much money is being traded

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The Metro Cash and Carry market in the hands of Reliance? Find out how much money is being traded

Metro Cash and Carry and Reliance Industries: Mukesh Ambani’s Reliance Industries can buy all Metro Cash and Carry businesses in the country. This transaction can be done in exchange for Rs.4,060 crore.

Graphic courtesy: TV9 Bangla

Many people are shocked to see the enormous wealth of Mukesh Ambani. Day after day, it turns out to be a mountain. His business is spread across different parts of the country. This time, another company is going to be added to Ambani’s Reliance Industries portfolio. Reliance Industries will buy the Indian activities of the German multinational Metro Cash & Carry. The agreement could be concluded between Reliance Industries and Metro AG for 500 million euros. In Indian currency, this is approximately Rs 4,060 crore.

Through this agreement, 31 wholesale distribution centers of Metro Cash and Carry, a land bank and other properties will be transferred to the country. The largest wholesaler in the country is Reliance Retail. Reliance Industries will be able to further expand its activities in the Bitubi segment if it acquires all Metro Cash and Carry in this country. Meanwhile, many foreign companies were also in the race to buy their business in India. However, it is known that Metro Cash and Carry could end up falling into the hands of Ambani.

It is known that the talks between Mukesh Ambani’s Reliance Industries and Metro had been going on for a few months. Last week, it was reported that German parent company Metro AG had accepted Reliance Industries’ offer. However, no one from Metro or Reliance Industries has commented on the deal. A Reliance spokesperson said: “Our company reviews various opportunities from time to time.” And the spokesman for Metro AG said: “We do not comment on rumors or speculation circulating in the market.” It should be noted that Metro Cash and Carry outlets are scattered in different cities of the country. Including 1 in Kolkata, 6 in Bangalore, 4 in Hyderabad, 2 in Mumbai and Delhi and Jaipur, Jalandhar, Zirakpur, Amritsar, Ahmedabad, Surat, Indore, Lucknow, Meerut, Nasik, Ghaziabad, Tumakuru, Vijayawada, Visakhapatnam. , Guntur and Hubballi each have 1 store. Apart from India, Metro AG operates in 34 countries across the world. And this multinational marketing company started its operations in India in 2003.

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