UAE’s Mubadala confirms $844m stake deal in retail unit of Indian giant Reliance
UAE’s Mubadala confirms $844m stake deal in retail unit of Indian giant Reliance
Mubadala Investment Company, the Abu Dhabi-based sovereign investor, on Thursday announced it will invest AED 3.1 billion ($844 million) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Indian giant Reliance Industries.
Mubadala said its investment will translate into a 1.40 percent equity stake in RRVL on a fully diluted basis.
Abu Dhabi Investment Authority and Mubadala Investment Company understood to be in discussions with Indian giant
On Wednesday, Arabian Business revealed that Mubadala was in talks on a possible deal.
This marks the second significant investment by Mubadala in a Reliance Industries subsidiary after the $1.2 billion investment in Jio Platforms announced earlier this year.
Reliance Retail Limited, a subsidiary of RRVL, operates India's fastest growing and most profitable retail business serving close to 640 million footfalls across its 12,000 stores nationwide.
The investment in