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2 More Companies Eye Stake In Reliance Jio Platforms: Report

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After three high profile investments into Jio, as per a Bloomberg report 2 more companies are looking to buy a stake into the $65-billion digital arm of Reliance Industries.

A Bloomberg report citing sources privy to the development said General Atlantic, the US-based private equity firm is looking at an investment in the firm of $850 million to $950 million. The deal could be finalized as early as this month, though as of now no agreement has been entered into.

2 More Companies Eye Stake In Reliance Jio Platforms: Report
 

In a separate report, Bloomberg said Public investment Fund (PIF) of Saudi Arabia is also looking at buying a minor stake in the Jio platform.

Earlier, Facebook and then Silver lake bought stake in the firm after which on Friday, the conglomerate announced stake sale to Vista Equity Partners.

Through the 3 investments, the company will be able to pare a significant part of its debt as through all of the deals RIL will be able to mop up $8 billion.

So, if the potential deal by Saudi Arabian company and the US based private equity goes through, RIL will be able to add to its liquidity over and above the $8 billion that it has already raised.

GoodReturns.in

Story first published: Saturday, May 9, 2020, 11:45 [IST]
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