Reliance to acquire Metro AG's India business for ₹2,850 crore.

2 Reliance Retail Ventures Ltd. (RRVL), a subsidiary of Reliance Industries Ltd., has signed definitive agreements to acquire 100 per cent equity stake in METRO Cash & Carry India Pvt Ltd. (METRO India) for a total cash consideration of ₹2,850 crore, subject to closing adjustments.

METRO India started operations in India in 2003 as the first company to introduce cash-and-carry business format in the country and currently operates 31 large format stores across 21 cities with about 3,500 employees. The multi-channel B2B cash & carry wholesaler has reach to over 3 million B2B customers in India, of which 1 million are frequently buying customers, through its store network and eB2B app. METRO India has established itself as a trusted partner for kiranas and other small businesses and merchants.

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