The German retailer, METRO AG, has announced the full completion of the sale of its Indian cash and Carry business to Reliance Retail Ventures Ltd (RRVL), which operates the retail empire of Reliance Industries Ltd.
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As part of the deal, RRVL has acquired all 31 wholesale stores that were operated by METRO Cash & Carry India and the entire real estate portfolio, which includes six store-occupied properties.
METRO is committed to maintaining its strong growth momentum and taking decisive strides towards achieving its medium- and long-term goals.
METRO is a prominent international food wholesaler with operations in over 30 countries. In the 2021/22 fiscal year, the company boasted sales of 29.8 billion Euros.
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