The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Global investment firm KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures Ltd for a 0.25 per cent additional stake of the retailer at a valuation of about Rs 8.36 lakh crore, Reliance Industries Ltd said on Monday. After this investment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL), the holding company of the retail business of billionaire Mukesh Ambani-led RIL, will increase to 1.42 per cent from 1.17 per cent. The investment is at "a pre-money equity value of Rs 8.361 lakh crore (around $100.87 billion)", said a joint statement.
James Scott, Metro Cash & Carry's regional operating officer (Asia) based in Singapore, virtually lives out of a suitcase. With the regional headquarters in Hong Kong and operations across China, India, Pakistan, and Vietnam, Scott travels through the week and gets back home only on weekends.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
German multinational distribution chain Metro Cash and Carry International is planning to set up distribution infrastructure for agricultural produce in West Bengal.
Metro Cash and Carry, a supply chain provider on Wednesday opened its third centre in India and the first in Andhra Pradesh.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
Cash-and-carry stores try tricks, from playing Bollywood music to customising orders, to retain customers.
Cash-&-carry chains claim of the products they sell 85-90% is local.
Global retail behemoths seem to have read the signals right.
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