CCI approves Reliance's acquisition of Metro's India business

15 Mar 2023 , 07:39 AM

India’s competition regulator said on Tuesday that it has allowed Reliance Industries Ltd’s Rs 2,850 crore ($346.16 million) acquisition of the Indian business of German retailer Metro AG.

With outlets covering electronics, grocery, and fashion, the agreement, which was announced almost three months ago, will help Reliance enhance its wholesale strategy and solidify its position as the largest player in India’s developing retail business.

Since its entry in 2003, Metro has been a player in the Indian market, with sales of roughly 77 billion rupees for the fiscal year that concluded in September 2022. It is primarily a provider to restaurants and smaller companies, and it has 31 locations throughout 21 cities.

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