UAE’s Mubadala confirms $844m stake deal in retail unit of Indian giant Reliance

  • Date: 01-Oct-2020
  • Source: Arabian Business
  • Sector:Economy
  • Country:UAE
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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