Subsidiary of Abu Dhabi Investment Authority to Invest in Reliance Industries

ADIA will buy a 1.2 percent stake in Reliance Retail Ventures, according to a statement, valuing the business at 4.29 trillion rupees. ADIA and Mubadala were keen to buy stakes. Mubadala announced its $844 million deal. RRVL has raised 377.1 billion rupees from global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than four weeks. Reliance Retail has rapidly  established itself as one of the leading retail businesses in India and, by leveraging both its physical and digital supply chains, is strongly positioned for further growth.

Reliance Retail runs supermarkets, India’s largest consumer electronics chain, a cash-and-carry wholesaler, fast-fashion outlets and an online grocery store called JioMart. It reported 1.63 trillion rupees in revenue in the year through March. The unit operates almost 12,000 stores in nearly 7,000 towns. Mukesh Ambani, chairman and managing director of Reliance Industries, said: “We are delighted with ADIA’s current investment and continued support and hope to benefit from its strong track record of over four decades of value creation globally.This investment is consistent with our strategy of investing in market leading businesses in Asia linked tothe region’s consumption-driven growth and rapid technological advancement.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x