Reliance May Continue With Metro India’s Top Management After Acquisition: Report
The multi billionaire business tycoon Mukesh Ambani led conglomerate was ready acquire the German firm in a deal including its 31 wholesale distribution centres, land and other assets owned by Metro. It is going to be the Rs 4,060-crore deal, according to a media report
A German retailer thinks Reliance Industries Limited will hold the company’s present management after the Metro AG acquisition deal is officially signed by the November end. This came days after it was public about Reliance Industries set to acquire Metro AG’s wholesale business in India.
The Metro AG recognised the Reliance Retail’s capacity of it being the largest retailer in country, to safeguard the employees’ interests and get quick regulatory approvals. It is going to be the Rs 4,060-crore deal, according to a media report.
The company’s subsidiary in India has around 5,000 employees working on roll.
According to a media report, the said deal is still being finalised will be inked officially probably by the month end.
The multi billionaire business tycoon Mukesh Ambani led conglomerate was ready acquire the German firm in a deal including its 31 wholesale distribution centres, land and other assets owned by it, reported a media house on 7 November
A Reliance official said that the company evaluates every opportunity in an ongoing basis business deal.
On the other hand, Metro AG’s official said that it better not to comment on market rumour or speculations.
At present, Metro AG is operating in 34 countries. It had entered the Indian market back in 2003. In India, it operates business six stores in Bengaluru, four in Hyderabad, two each in Mumbai and Delhi along with stores in various other cities, including Kolkata and Jaipur.