After selling its stake in Jio platforms, Reliance Industries is now looking at its retail business. The company is reportedly planning to sell a 40 percent stake to Amazon worth $20 billion (roughly Rs. 14,6717 crore).
Amazon had a discussion with Reliance Retail and showed its interest in buying the stake, reports Bloomberg. This means that Reliance is now focusing on its retail business after becoming the number one telecom operator in the country. In fact, if this deal goes through, then it will be a huge development in the retail sector and will capture half of the retail market. This stake selling deal will be the biggest retail deal in the country.
Silver Lake To Invest In Reliance Retail
Meanwhile, Silver Lake has announced that it will invest Rs. 7,500 crore in the Reliance Retail Ventures Limited. This investment will increase the equity value of Rs. 4.21 lakh crore and this will translate the 1.75 stakes.
“Silver Lake’s investment will translate into a 1.75 percent equity stake in RRVL on a fully diluted basis. This marks the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year,” Reliance Retail said.
Apart from the Silver Lake deal, Facebook and KKR might invest in Reliance Retail. Both, companies have already invested in Jio platforms. So, industry sources believe that Facebook and KKR will invest in the retail segment. Sources close to the development also said that there is no guarantee that these deals will go through.
These developments come after Reliance Retail acquired the Kishore Biyani Future Group business worth Rs. 24, 713 crore. This also means that Reliance will pay all its liabilities and will own all Future Group’s companies like Big Bazaar, FBB, Nilgiri, and many more.
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