Equity giant Carlyle to invest in Reliance retail platform |
American multinational private equity firm, Carlyle Group is looking to invest 1.5-2 billion dollars to buy a stake in India`s Reliance Retail Ventures Ltd, joining a string of marquee investors that are keen on buying stakes in units of Mukesh Ambani-led Reliance Industries Ltd. If a deal is finalized, it will mark Carlyle`s first investment in the retail sector in India and its biggest so far in an Indian company. Reliance Retail has been doing good business and is expected to be a good investment. Carlyle is considering investments across the retail space in India comprising both online and offline retail firms, including Reliance Retail. Its investment in Reliance Retail is still at the discussion stage. Reliance Retail Ltd, a unit of RRVL operates India`s largest and fastest-growing retail business with nearly 12,000 stores nationwide. Post the recent acquisition of Future Group`s retail business, RRVL has drawn the attention of several large investors. Last week, RRVL raised $1 billion from Silver Lake Partners. The retail firm is also set to draw $5 billion in additional investments from KKR and Co., Mubadala Investment Co. and Abu Dhabi Investment Authority. California-based private equity firm Silver Lake, an investor in RIL`s Jio Platforms Ltd, picked up a 1.75% stake in RRVL for $1 billion, valuing the company to $57 billion.
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