German retailer Metro AG is scouting for a partner to sell its stake in its Indian subsidiary Metro Cash & Carry India, according to a source.
The parent company after reviewing the progress of its Indian unit is now looking for strategic external alliances for profitable growth of the business, said the industry source.
“This is at the discussion stage which has happened,” he said, adding some discussion with the bankers has happened regarding it.
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According to a media report, several leading companies operating in the online and offline business-to-business (B2B) and business-to-consumer (B2C) retail space have been approached, including Amazon, Thailand’s Charoen Pokphand (CP) Group, Reliance Retail, Avenue Supermarts (D-Mart), Tata Group, Lulu Group, and PE fund Samara Capital.
The Indian business needs more investments to expand and add more stores in its network and attain…
