Reliance Retail has signed an agreement to acquire 100 per cent stake in METRO Cash & Carry India for a total consideration of Rs 2,850 crore, which is subject to closing adjustments.
Through this acquisition, the company will gets access to a wide network of METRO India stores in locations across key cities, a large base of registered kirana stores and other institutional customers and supplier networks, Reliance Retail said in a press release.
The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed by March 2023.
“The acquisition will further strengthen