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| Reliance strikes third unit stake deal, raising $8 billion in 2 weeks | Writer | Admin | |||
|---|---|---|---|---|---|
India’s Reliance Industries Ltd (RELI.NS) on Friday
announced a $1.5 billion stake sale in digital unit Jio Platforms, a third deal
in a little over two weeks that will inject a combined $8 billion in the
telecoms-to-energy group to help it pare debt.
Private
equity firm Vista Equity Partners is buying a 2.3% stake in Jio Platforms, the
unit that houses Reliance’s telecoms venture Jio Infocomm, for 113.67 billion
rupees ($1.5 billion), Mumbai-headquartered
Reliance said in a statement.
The investment gives Jio Platforms an equity value of 4.91
trillion rupees and an enterprise value of
5.16 trillion rupees, said Reliance, which is controlled by billionaire tycoon
Mukesh Ambani.
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| No | Subject | Writer | Date |
|---|---|---|---|
| 309 | Reliance strikes third unit stake deal, raising $8 billion in 2 weeks | Admin | 20-05-13 |
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