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Published
Jul 13, 2022
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Businesses bid for Metro AG's India wholesale unit

Published
Jul 13, 2022

As Germain retail business Metro AG looks into the possibility of selling off its India wholesale unit, businesses including Reliance Industries Limited and Charoen Pokphand Group Co have submitted non-binding bids. 

Metro retails across the world - Metro


Metro could sell off its India wholesale unit at a valuation of $1 billion to $1.2 billion, ET Bureau reported. Thai conglomerate Charoen Pokphand Group Co and Indian billionaire Mukesh Ambani’s Reliance Industries have expressed interest in purchasing the business and US giant Amazon is considering making an offer, an anonymous source close to the matter told Bloomberg. 
 
After receiving the first round of non-binding bids, Metro AG could shortlist its suitors for a second round of bidding as soon as August. As India is one of the world’s largest consumer markets with a population set to become the largest of any one nation in the world next year, acquiring Metro AG could represent an opportunity for the buyer to deepen its retail portfolio in a country where the organised segment of the market is still relatively untapped. 

Metro AG first entered the Indian market in 2003 and runs a total of 31 wholesale distribution centres located cross the country. The business retails exclusively to other registered businesses and does not engage in business-to-customer trade in India. However, the Confederation of All India Traders recently accused Metro of secretly and illegally selling goods to a B2C audience, something Metro has vehemently denied. 

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