Reliance Retail Sells Stake To KKR For Rs 5,550 Cr

by pranjalipargaonkar
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Mumbai : US equity firm KKR has announced an investment in Reliance’s retail business. As per the information, KKR will invest Rs 5,550 crore in Reliance Retail. This is KKR’s second investment in Reliance Industries Group. Earlier, KKR has also bought a stake in Reliance’s Jio platform. Following this investment, KKR will have a 1.28% stake in Reliance Retail. U.S. equity firm KKR has invested 1.5 billion (about Rs.11,367 crore) in Jio Platforms.

Silver Lake Partners (SLP) has also staked in Reliance Retail. Silver Lake, the world’s largest tech investor, is set to invest Rs 7,500 crore. In return, the company will get a 1.75 per cent stake in Reliance Retail. Silver Lake has bought a stake in Reliance’s Jio platform for 1.35 billion, or about Rs 10,000 crore. Silver Lake has invested in two Reliance Group companies.

Facebook and Amazon are also in the race
Social site Facebook and e-commerce company Amazon are also preparing to invest in Reliance Retail. Facebook has taken about 10 per cent stake in the Jio platform with an investment of around Rs 45,000 crore. However, Amazon will invest in Reliance Industries for the first time.

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