American Global Investor KKR to invest $755.1 Million in Reliance Retail Ventures Limited (RVL) which is a subsidiary of Reliance Limited. KKR will be holding a stake of 1.28% in Reliance Industries.
KKR to invest $755.1 million in Reliance, is the Second deal by Reliance within two weeks. The company has issued a statement regarding the news announcement in which they mentioned that the investment is fully on “diluted basis”. Prior to this investment, Silver Lake had invested in the business holding a stake of 1.75 per cent.
In the conclusion of which, Mukesh Ambani, the Managing Director of Reliance, has welcomed the firm with an open heart. He said “We continue our onward march in growing Retail Ecosystem for benefit of Indians.
About Reliance Retail Ventures
Founded in 2006, Reliance Retail Venture is one of the largest and fast-growing most profitable retail business. It owns about 11,806 stores over 7,000 towns all over the country with retail space of 28.7 million sq ft.
Moreover, the company said that by August-end, it would takeover Kishore Biyani,s Future Group retail outlets in a deal valuing $3.38 billion, including debts. The investing firm KKR has a long history of building leading global enterprises. KKR’s investment of $755.1 million in its second investment in Reliance. Prior to this, KKR has invested in Reliance Jio, a digital platform of RIL.
About KKR
KKR, founded in 1976, has a history of successful investment in leading technology sector’s leading businesses including, BMC Software, BtteDance and GoJek. Today the firm’s technology portfolio consists of more than 20 companies across all the digital and media sectors. On contrary, it finds India as a good place to invest its money in since the beginning.
The firm said, We are pleased to deepen the relationship with RIL through investment in the Retail Venture. Furthermore, Co-Founder of the firm said, Reliance is empowering merchants of all sizes and changing the retail experience of customers fundamentally. Above all, KKR said they are thrilled and excited to work and support Reliance Retail Venture.
For Reference, Read this:
Reliance to get an investment from KKR
An investment of $755.1 million on it’s way to Reliance
