Metro AG (XTRA:B4B) is planning to exit the Indian market by selling its cash-and-carry operations for $1.5-1.75 billion, according to a news report. The Economic Times reported that companies such as Amazon.com, Inc. (NasdaqGS:AMZN), Charoen Pokphand Foods Public Company Limited (SET:CPF), Reliance Retail Limited, Avenue Supermarts Limited (NSEI:DMART), Tata Sons Private Limited, LOLO Group (Lulu Group), and PE fund Samara Capital have been approached to buy the MNC's cash-and-carry operations in the country. According to the report, JP Morgan and Goldman Sachs have been appointed to find a suitable buyer for Metro AG's business in India.

Pressures to sell below cost, free delivery of goods and negative EBITDA in the industry, were the reasons according to an industry veteran, quoted in the report. The discussions with potential buyers are said to be in the initial phase.