Abu Dhabi government to buy a stake in Reliance Retail?
Abu Dhabi Investment Authority (ADIA), one of the biggest sovereign wealth funds on the planet, is mulling to hold an additional stake in Mukesh Ambani’s Reliance Retail business.
Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, is considering having an additional stake in Mukesh Ambani’s Reliance Retail empire. According to a report in the press, ADIA is seeking to fund $600 million in Reliance Retail.
Founded in 1976, ADIA is a globally diversified investment organization that prudently invests funds on behalf of the Government of Abu Dhabi via a strategy concentrated on long-term value creation. ADIA has been funded in private equity since 1989 and has made a significant internal crew of experts with experience across asset products, geographies, and sectors.
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ADIA has yet to invest in Reliance Retail Ventures Limited (RRVL), having purchased a 1.2 percent stake for Rs 5,512.50 crore ($751 million) in October 2020.
“The investment by ADIA is an additional blessing of Reliance Retail’s implementation and potential and the inclusive and transformational New Commerce business example that it is rolling out,” Mukesh Ambani, Chairman and Managing Director of Reliance Industries, had told them.
