EbeneNews – CA – Reliance Retail signs second deal in 2 weeks, to obtain Rs 5,500 Crore from US stock company KKR


    US private equity firm KKR & Co to invest Rs 5,500 crore in the retail arm of Reliance Industries Limited (RIL) for a 128% stake This is Reliance’s second offering Retail in As Many Weeks Investment values ​​Reliance Retail at a pre-silver equity value of Rs 421 lakh crore, RIL said in an exchange filing on September 22

    Earlier this month, private equity giant Silver Lake Partners announced it would invest Rs 7,500 crore in Reliance Retail, India’s largest physical retail company, for a 175% participation

    RIL, an oil-telecom conglomerate, expands its retail business and brings together a group of global investors to take on rivals such as Amazon India and Walmart-owned Flipkart in the huge Indian market

    Mukesh Ambani, President and CEO of Reliance Industries, said, “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our journey towards growth and ecosystem transformation. of Indian retail for the benefit of all Indians”

    Henry Kravis, Co-Founder and Co-CEO of KKR, said: “Reliance Retail’s new commerce platform addresses an important need for consumers and small businesses as more consumers Indians are turning to online shopping and the company offers tools for Kiranas to be a vital part of the value chain We are delighted to support Reliance Retail on its mission to become the leading omnichannel retailer in India and ultimately to building a more inclusive Indian retail economy”

    Reliance’s commercial footprint spans 11,806 stores in more than 7,000 cities, including 287 million square feet of retail space Reliance Retail, founded in 2006, announced at the end of August that it would acquire the business Kishore Biyani Future Group Retail & Logistics in $ 3 Transaction38 billion (Rs 24,713 crore), debt included

    KKR’s latest investment, which has a long history of building leading global companies, in Reliance Retail underscores its clear belief that the RIL unit is poised to lead a disruptive and technological transformation of the industry of Indian retailing particularly relevant in the post-India pandemic

    This is also KKR’s second investment in a Reliance company In May 2020, KKR announced that it will invest Rs 11,367 crore in Jio Platforms, RIL’s digital services platform

    Founded in 1976, KKR has successfully invested in tech companies including BMC Software, ByteDance and GoJek through its private equity and technology growth funds Since its inception, the company has invested over 30 billion dollars (total company value) in technology companies and, at present, the company’s technology portfolio consists of more than 20 companies in the technology, media and telecommunications industries In addition, India is a key strategic market for KKR with a history of investing in the country since 2006

    Reliance Retail Limited, a subsidiary of RRVL, operates India’s largest, fastest growing and most profitable retail business, serving nearly 640 million visitors in its approximately 12,000 stores across the country

    Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

    Reliance Industries Limited, KKR & Co Inc, Reliance Retail, Crore, Mukesh Ambani, KKR

    EbeneNews – CA – Reliance Retail concludes second agreement in 2 weeks, to obtain Rs 5,500 Crore of the American stock company KKR

    SOURCE: https://www.w24news.com/news/ebenenews-ca-reliance-retail-signs-second-deal-in-2-weeks-to-obtain-rs-5500-crore-from-us-stock-company-kkr/?remotepost=317595


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