Mukesh Ambani-led Indian conglomerate Reliance Industries is trying to promote a roughly $20 billion stake in its retail arm to Amazon, Bloomberg News reported on Thursday. The expertise big has thought-about investing in Reliance Retail Ventures and is prepared to promote as much as a 40% stake in retail unit, the report mentioned.
“Amazon has held discussions about investing within the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed curiosity in negotiating a possible transaction,” the particular person mentioned.
ET had earlier reported that Reliance Retail Reliance Industries is trying to elevate Rs 60,000-63,000 crore by promoting a 15% stake in Reliance Retail Ventures, the holding firm of its retail companies, to a clutch of personal fairness buyers and sovereign wealth funds.
On Wednesday, US non-public fairness main Silver Lake picked up 1.75% in Reliance Retail Ventures for Rs 7,500 crore, valuing the corporate at ₹4.21 lakh crore.