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Published
Nov 7, 2022
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Metro advances talks over sale of India business

Published
Nov 7, 2022

Metro has announced that it is in advanced talks to forge a deal to sell off its India business. The German business has been present in the Indian market since 2003 and a deal could be struck before the end of the year. 

German business Metro retails across the world - Metro


A deal to sell off Metro’s India business could see the country’s division valued at €500 million, ET Bureau reported. The business announced its decision to sell its India unit at the end of last week. Media reports have been speculating the sale due to tip offs from anonymous sources at the business but this is the first time Metro has officially spoken on the matter. 
 
The current favourite to purchase the India business is Reliance Industries Limited. However, no final decision has been made on the matter, sources told the Economic Times. “As a policy, we do not comment on media speculation and rumours,” a spokesperson for Reliance told Reuters about the possible deal. “Our company evaluates various opportunities on an ongoing basis.” 

Metro currently has an employee base of around 3,350 staff in India and has an average annual turnover of €765 million which represents around 2.6% of its total global revenue. The business operates 31 stores in 21 Indian cities and caters to business-to-business customers. 

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