Reliance beats Amazon, Swiggy & Udaan to acquire Metro Cash & Carry for INR 4,500 Cr
Image Credit: metro
Reliance Industries has beaten tech giant Amazon and Indian startups Swiggy and Udaan, among others, in the race to acquire German wholesaler Metro’s Indian business, PTI reported. The €500 Mn - €550 Mn (INR 4,000 Cr - INR 4,500 Cr) worth of deal will mark the exit of Metro Cash and Carry’s loss-ridden wholesale business from India after 19 years of operations.