Reliance Acquire Metro Cash & Carry India: The country’s largest private sector company Reliance Industries has made another big deal. Reliance Industries has acquired the business of German retail company Metro Cash & Carry in India. For which Reliance Industries has made an estimated agreement of about Rs 4,060 crore (500 million euros).
Image will be made in B-2-B category
According to industry sources, Reliance Industries will also get 31 Wholesale Distribution Centers, Land Banks and other properties owned by Metro Cash & Carry in this agreement. This agreement will help the country’s largest retail company Reliance Retail to increase its presence in the B2B segment.
Discussion was going on for a long time
Let us tell you that the discussion between Mukesh Ambani-led Reliance Industries and Metro was going on for the last few months. After which the metro company has agreed to the proposal of the German company Reliance Retail last week. Both Metro and Reliance Industries declined to comment on this development.
Reliance Industries quarterly results
Reliance Industries has earned a net profit of Rs 13,656 crore in the second quarter. Which was Rs 13,680 crore in the same quarter last year. The company’s revenue increased by 33.7 percent. With which Rs 2.32 lakh crore has been.
so much market cap
The market capitalization of the country’s most valuable company RIL has increased by Rs 44,956.5 crore to Rs 17,53,888.92 crore last week.