Germany's Metro in advanced talks over sale of Indian division

Metro AG

04/11/2022 12:02

DUESSELDORF/BENGALURU, Nov 4 (Reuters) - Germany's Metro
is exploring strategic options for its Indian unit and is in
advanced discussions over a deal, a group spokesperson said,
with analysts reckoning that the division could be valued at 500
million euros ($490 million) in a sale.
    Indian retailer Reliance  RELI.NS  is well-positioned to buy
the business, two people familiar with the matter said, adding a
deal could happen before the end of the year but that no final
decision has been made.
    Metro  B4B.DE  has been active in the Indian market since
2003, employs around 3,350 staff there and makes around 765
million euros of sales, around 2.6% of its total. It operates 31
stores in 21 cities and mostly supplies restaurants and smaller
businesses.
    "As a policy, we do not comment on media speculation and
rumours," a Reliance spokesperson said. "Our company evaluates
various opportunities on an ongoing basis."
($1 = 1.0215 euros)
 (Reporting by Matthias Inverardi and Praveen Paramasivam;
Writing by Christoph Steitz
Editing by Miranda Murray)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))