Silver Lake to Invest Additional $255 Million in Reliance's Retail Venture
01 October 2020 - 1:46AM
Dow Jones News
By P.R. Venkat
Investment partners of Silver Lake will inject an additional
18.75 billion rupees ($255 million) into the retail arm of Indian
conglomerate Reliance Industries Ltd., increasing the U.S. private
equity firm's total investment to INR93.75 billion.
Silver Lake's stake in Reliance Retail Ventures Ltd. will rise
to 2.13% from 1.75%, Reliance Industries said Thursday.
The latest investment values Reliance Retail at INR4.29
trillion, Reliance said.
The transaction is subject to regulatory and other
approvals.
Reliance Retail operates India's largest retail business, with
12,000 stores nationwide.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
September 30, 2020 20:31 ET (00:31 GMT)
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