Reliance Retail makes Rs 5,600-crore initial offer for Metro Cash & Carry India

Reliance Retail has submitted a non-binding bid of  Rs 5,600 crore to acquire Metro Cash and Carry’s India operations and assets. Metro Cash and Carry India clocked sales of Rs 6,738.3 crore in FY21, a growth of 4 per cent over the previous year but decided to exit due to the need for higher investment to compete with deep-pocketed rivals such as Reliance and Amazon.