The acquisition is estimated at around 500 million euros (RS 4,060 cr)
Reliance Industries and METRO have been discussing it for a few months
The German parent firm agreed to Reliance’s terms last week
The deal covers METRO Cash & Carry India’s 31 wholesale distribution centres
It also covers land banks and other assets of the firm
The acquisition would help Reliance expand its presence in the B2B segment
METRO Cash & Carry’s clientele includes retailers and Kirana stores, hotels, restaurants, corporates, SMEs.. etc
METRO AG entered the Indian market in 2003 and has stores across India
Both firms are yet to confirm the news
