Reliance buyout of Metro Cash and Carry India

Current Context: The Competition Commission of India approved Reliance Retail Ventures (RRVL’s) merger of METRO Cash and Carry India. It was done for a worth of Rs.2850crore. RRVL is a subsidiary of Reliance Industries. METRO Cash and Carry India is involved in Wholesale services.

• In December 2022, RRVL signed an agreement to acquire 100% shares of German firm Metro AG’s wholesale operation in India. By this merger RRVL will get METRO India’s business access to major cities and store located there for supplier network.
• This merger deal will strengthen the RRVL’s business reach among consumers and small merchants by elevating the supply chain network and technology platforms. The stakeholders will be greatly benefited.
• METRO India began its operations in India in 2003. It was the 1st company to introduce the cash and carry business. It currently operates in 21 cities.
• METRO India reaches up to 3 million B2B customers through its store network, out of which 1 million are Indian users. In 2021-2022METRO India’s sales reached RS.7700crores.
• RRVL director is Isha Ambani and the CEO of METRO India is Steffen Greubel.

Question: 

Q.1 Reliance Retail Ventures (RRVL’s) merges with METRO Cash and Carry India. It was done for a worth of?
a. Rs.2000 cr

b. Rs.2850 cr
c. Rs.3500 cr
d. Rs.4000 cr