Qatar fund considering minority stake in Ambani’s retail arm

In discussion: Ambani with his daughter Isha, who is head of Reliance Retail Ventures, at a fashion show in Mumbai. The Qatar Investment Authority is considering a US$1bil (RM4.56bil) investment in the company, according to a report. — AFP

DOHA: Qatar’s sovereign wealth fund is in talks to buy a minority stake in the retail arm of Indian billionaire Mukesh Ambani-led conglomerate Reliance Industries.

The Financial Times reported yesterday that the Qatar Investment Authority (QIA) is considering a US$1bil (RM4.56bil) investment in Reliance Retail Ventures, for a stake of about 1%, valuing the business at around US$100bil (RM456bil), the report said, citing three people with knowledge of the discussions.