fbpx

Type to search

Retailer Metro to Sell Off Indian Assets – Economic Times

Amazon, Charoen Pokphand Group, Reliance Retail, Avenue Supermarts, Tata Group, Lulu Group and Samara Capital have all expressed an interest to the German firm


Retailer Metro is looking to sell its chain of stores in India.
Metro has been operating its nationwide chain of 31 big-box grocery stores since 2003. File photo: AFP.

 

Metro plans to sell its Indian operations for up to $1.75 billion, The Economic Times reported, saying Amazon, Thailand’s Charoen Pokphand group, Reliance Retail, Avenue Supermarts, Tata Group, Lulu Group and Samara Capital have approached the German retailer.

Metro has been operating its nationwide chain of 31 large grocery stores since 2003, but intense market competition and large investments to sustain operations has forced the Dusseldorf-based company to sell its interests, the paper reported.

Read the full report: Economic Times.

 

 

READ MORE:

Stellantis Looks to Indian Future as China, Russia Sales Lag

India’s LIC Will Bounce Back From Lukewarm IPO: Analysts

Adani Group Cements $10.5bn Deal For Holcim’s India Assets

 

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

logo

AF China Bond