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Reliance Industries Taps Facebook, KKR For Investment In Retail Biz




 

Mukesh Ambani-led Reliance Industries Ltd (RIL) has initiated preliminary negotiations with Facebook and private equity fund KKR for investment in its retail business. The two companies already own stakes in RIL's Jio platforms. Facebook and KKR are among 13 investors that pumped in over $20 billion in Jio platforms for an over 30 per cent stake.

RIL has reportedly invited these stakeholders to also put in money in Reliance Retail once the monetisation process of the company begins following the acquisition of Kishore Biyani-led Future Group's retail business.

Sources told Business Standard that while discussions are on, there is no guarantee if the deal will come through as it will be predicated on expected valuations of Reliance Retail after the acquisition of the Future Group companies.

American private equity investor Silver Lake Partners is also reportedly holding talks and is eyeing a $1 billion investment in Reliance Retail.

Meanwhile, responding to the speculation, a Reliance spokesperson told the publication that the company does not comment on "media speculation and rumours...as a policy".

Facebook is the largest investor among all 13 strategic investors in Jio platforms, holding a 9.9 per cent stake worth Rs 43,574 crore.

The social media giant has an alliance in the retail business of the Ambanis, who are the promoters of Reliance.

Private equity investor KKR has picked up a 2.32 per cent stake for Rs 11,367 crore in Jio platforms whose other investors are Google, Intel, Qualcomm, Vista Equity Partners, Abu Dhabi Investment Authority, and Mubadala.

Sandip Ginodia , CEO

 

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