The Abu Dhabi government's Mubadala Investment Fund is in advanced stages in talks to invest up to $ 1 billion in the retail division of India's Reliance Industries.
According to Reuters, Reliance Retail is embarking on a fundraising round and has raised nearly $ 1.8 billion in the past few weeks from KKR & Co. and Silver Lake Partners.
Rylanes, controlled by Mukesh Ambani, Asia's richest man, addressed investors together who have poured more than $ 20 billion into its Geo Platforms digital unit this year to buy stakes in The retail unit, which has about 12 thousand stores and sells a variety of goods and merchandise, from groceries to electronics, clothes and shoes.
Mubadala has invested about $ 1.2 billion in Geo Platforms, and its executives have held intense talks in recent weeks with Reliance to invest in the retail project, according to several sources familiar with the progress of the talks. .
And while a source said that a swap is ready for a billion dollars for Reliance Retail and that it is conducting technical examination, a second said that the talks have reached an advanced stage and that the investment could be between 500 One million and billion dollars.
A Reliance spokesperson stated that the company could not confirm or deny any deal, adding that it was constantly evaluating the various opportunities.
and Mubadala declined to comment.
and any new investment from Mubadala in Reliance will come months after it said it intends to expand its portfolio in Asia.
