Metro's India wholesale unit is reportedly up for grabs with billionaires competing for it

12 Jul 2022 , 01:01 PM

According to news articles, Reliance Industries Ltd. and Charoen Pokphand Group Co. are two potential suitors for German retailer Metro AG’s wholesale operations in India as the businesses look to expand their retail portfolios in one of the largest consumer markets in the world.

Both the Indian conglomerate backed by billionaire Mukesh Ambani and the Thai conglomerate headed by tycoon Dhanin Chearavanont have made non-binding offers, the report claimed. The second-richest man in the world, Jeff Bezos, the founder of Amazon.com Inc., is reportedly
thinking about making a bid as well.

According to news reports, Metro has been working with consultants on a prospective sale of the Indian firm, which could bring in a valuation of $1 billion to $1.2 billion. According to the source, candidates for the next round of bidding might be narrowed down as early as August.

According to its website, Metro is present in the Indian market since 2003 and now runs 31 wholesale distribution centers throughout the country that only supply to business customers. Hotels, restaurants, as well as various corporate entities, such as small stores, are among its key clients.