Pedestrians walk past a store of Reliance Digital Retail Ltd., a subsidiary of Reliance Industries Ltd., in Mumbai, India, on Tuesday, July 14,2020. Google is in advanced talks to buy a $4 billion stake in Jio Platforms Ltd., the digital arm of Indian billionaire Mukesh Ambani's conglomerate, people familiar with the matter said, seeking to join rival Facebook Inc. in chasing growth in a promising internet and e-commerce market. Photographer: Dhiraj Singh/Bloomberg
MUMBAI: KKR & Co is in advanced talks to invest at least US$1bil in the retail business of Indian billionaire Mukesh Ambani, according to people familiar with the matter, in what could be another United States investment in the unit following Silver Lake’s deal.
KKR is in discussions for a stake in Reliance Retail Ventures Ltd, a unit of the largest retailer in India, said the people, who asked not to be identified because the information isn’t public. The private equity firm could invest as much as US$1.5bil and an announcement could come as soon as this month, one of the people said.
Limited time offer:
Just RM5 per month.
