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Business

CCI okays acquisition of METRO Cash, Carry by Reliance Retail Ventures

IANS | March 15, 2023 12:31 PM

NEW DELHI: The Competition Commission of India (CCI) has approved the acquisition of METRO Cash and Carry India Private Limited by Reliance Retail Ventures Limited.

The proposed combination involves acquisition of 100 per cent of the issued and paid-up equity share capital of METRO Cash and Carry India Private Limited (Target) by the Reliance Retail Ventures Limited (Acquirer).

The Acquirer is a subsidiary of Reliance Industries Limited.

The Acquirer, through its subsidiaries and affiliates, is engaged in the wholesale and retail sale of products across categories such as food and groceries, d0urable goods and apparel and footwear in India.

The Target is engaged in the business of cash and carry wholesale trading in India.

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