Abu Dhabi's Mubadala agrees $853 million deal with India's Reliance Retail | Reuters:
Abu Dhabi state fund Mubadala Investment Co has agreed to invest 62.48 billion rupees ($853 million) in the retail division of India’s Reliance Industries RELI.NS, the Indian conglomerate said in a statement.
Reliance Retail is on a fundraising spree and has secured around $1.8 billion in the past few weeks from KKR & Co KKR.N and Silver Lake Partners.
Mubadala’s investment translates into a 1.4% equity stake in Reliance Retail Ventures Limited on a fully diluted basis, according to the statement and a source close to the 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 said.
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