According to a press report, the retail group Metro wants to pocket billions for the sale of the Indian business, which has been speculated for some time.
Several potential buyers have been approached for Metro’s 31 Cash & Carry wholesale stores, with a purchase price between 1.5 and 1.75 billion US dollars (almost 1.7 billion euros), according to a report the Indian business newspaper “The Economic Times” on Friday. The sheet relies on several people familiar with the processes. The US retail giant Amazon
The group initially did not comment on the report when asked. The Indian newspaper quoted a company spokesman who generally referred to an ongoing process of evaluating activities in different markets, including India. In addition, the company does not want to comment on “rumors and speculation”.
Metro has been present in the country since 2003. Due to tough competition, Metro has recently checked how things should continue in India – according to the medium, the decision to sell has now been made. The “Handelsblatt” had already reported in January that Metro was preparing to withdraw from India and Belgium. High investments are necessary in India, so a strategic partner is being sought. (dpa)