RIL buys METRO for Rs 2,850 crore

NEW DELHI: Reliance Industries Ltd’s (RIL) retail arm – Reliance Retail Ventures Limited (‘RRVL’) – on Thursday signed definitive agreements to acquire 100 equity stake in METRO Cash & Carry India (‘METRO India’) for a total cash consideration of Rs 2,850 crore. The transaction is expected to complete by March 2023.