Silver Lake in talks to invest $1B in Reliance Retail

Private equity fund Silver Lake is in talks to invest $1 billion in Reliance Retail.

The investment, which would value Reliance Retail at about $57 billion, comes as the company is aiming to sell about 10 per cent in new shares, the Financial Times reported.

Silver Lake is already an investor in Reliance Jio and aggregate investment by Silver Lake is Rs 10,202.55 crore for 2.08 per cent equity in Reliance Jio.

Reliance Retail Ventures Limited (RRVL), subsidiary of Reliance Industries Limited, today announced that it is acquiring the retail and wholesale Business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of Rs 24,713 crore, subject to adjustments as set-out in the composite scheme of arrangement (Scheme).

The above acquisition is being done as part of the scheme in which Future Group is merging certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL).

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