Insta

Abu Dhabi Sovereign Wealth Fund, Mubadala In Advanced Talks To Invest Up To $1 Billion In Reliance's Retail Business

Swarajya Staff

Sep 30, 2020, 11:28 AM | Updated 11:28 AM IST


Reliance Industries chairman Mukesh Ambani.
Reliance Industries chairman Mukesh Ambani.

Abu Dhabi's sovereign wealth fund Mubadala Investment Company is in advanced talks with Mukesh Ambani-led Reliance Industries Limited (RIL)'s retail division Reliance Retail Ventures Limited (RRVL) for investing up to a billion dollars, reports The Economic Times.

RRVL is presently in the midst of emulating a stellar fundraising spree as achieved by its sister RIL firm Jio Platforms which had raised more than $20 billion from a stream of technology majors, private equity (PE) behemoths and sovereign wealth funds. RRVL has already raised $1.8 billion so far, from United States (US)-based PE giants KKR & Co. and Silver Lake Partners.

It should be noted that Mubadala Investment Company had also invested $1.2 billion in Jio Platforms just a few months ago. The company had earlier also stated that it was under-invested in Asia and planned to expand its portfolio of investments in the region.

Mubadala Investment Company is the second-largest sovereign wealth fund of Abu Dhabi after the Abu Dhabi Investment Authority (ADIA), and presently manages assets worth over $240 billion.

Meanwhile, it should be noted that Japanese SoftBank group led by billionaire Masayoshi Son is also said to have expressed interest in investing in RRVL.


Get Swarajya in your inbox.


Magazine


image
States