Sept 3 (Reuters) - Private equity firm Silver Lake Partners SILAK.UL is in talks to invest $1 billion in the retail arm of India's Reliance Industries Ltd RELI.NS , the Financial Times reported on Thursday, citing people with direct knowledge of the matter.
The investment, which would value Reliance Retail at about $57 billion, comes as the company is aiming to sell about 10% in new shares, the report added. (https://on.ft.com/3hXhWrN)
Silver Lake declined to comment on the report, while Reliance could not immediately be reached outside of normal business hours.
Reliance, an oil-to-telecoms conglomerate controlled by India's richest man, Mukesh Ambani, is pitching its retail business as a formidable force in the world's second most populous country, expanding rapidly to woo potential investors. company has raised more than $20 billion from global investors including Facebook Inc FB.O by selling stakes in its Jio Platforms digital business and has said it aims to attract investors to Reliance Retail over the next few quarters.
In late August, Reliance said it would acquire the retail and logistics businesses of India's Future Group in a deal valued at $3.38 billion, including debt.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.