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Silver Lake In Talks To Purchase Stake In Reliance Retail: Report

By Staff

American private equity firm Silver Lake Partners is in talks to invest $1 billion in the retail arm of Reliance Industries Ltd (RIL), the Financial Times reported on Thursday, citing people with direct knowledge of the matter.

The report added that the investment, which would value Reliance Retail at about $57 billion, comes as the company is aiming to sell about 10 percent in new shares.

Silver Lake In Talks To Purchase Stake In Reliance Retail: Report

The international business daily cited two senior industry executives that the Mukesh Ambani-led conglomerate is looking to raise funds by selling minority stakes in Reliance Retail and is in discussion with several investors.

An Economic Times report quoting a Reliance Retail spokesperson on the media report said that the company does not comment on media speculation.

Reliance Retail has over 45 subsidiaries and divisions including Reliance Fresh, Reliance Digital, AJIO, Hamleys, Reliance Trends and now retail segments of the Future Group.

Late in August, Reliance Retail had announced that it would be acquiring the Retail & Wholesale Business and the Logistics & Warehousing Business from the Future Group for Rs 24,713 crore.

"The acquisition of the retail, wholesale and supply chain business of the Future Group complements and makes a strong strategic fit into Reliance's retail business. This will help Reliance retail to accelerate providing support to millions of small merchants in increasing their competitiveness and enhance their income during these challenging times," RIL had said in its statement announcing the deal.

Further, RIL has raised more than $20 billion from global investors including Facebook Inc by selling minority stakes in its Jio Platforms digital business.

Read more about: reliance industries limited ril
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