Reliance Retail to buy Metro's India unit for about $344m

Reliance Retail to buy Metro's India unit for about $344m

FILE PHOTO: Shopping trolleys are parked outside a Reliance supermarket in Mumbai, India, March 16, 2021. Picture taken March 16, 2021. REUTERS/Niharika Kulkarni

India’s Reliance Retail Ventures said on Thursday it had agreed to buy German retailer Metro AG’s Indian unit for 28.5 billion rupees ($344 million) as it makes aggressive strides in the retail industry.