US-based KKR & Co is also in talks to invest in Reliance Industries unit Jio Platforms. Earlier Silverlake, Vista Partners, and General Atlantic had invested in Jio.
People familiar with the matter told that KKR has been in talks for some time and the deal is expected to happen soon. He told that under this KKR & Company can invest between 75 million to 1 billion dollars. It may be formally announced in the next few days. It is being told that apart from KKR, Saudi Arabia’s government fund PIF also wants to buy a stake in Jio Platforms.
Reliance Industries is in talks with several parties. It also includes the Sovereign Wealth Fund UAE Mubadala. Officials associated with the case said that the talks are in different stages. Some believe that a 5-10 percent stake could be sold further as RIL chairman Mukesh Ambani would like to reduce Reliance’s holding to around 75-80 percent before the listing of Jio. PIF is taking the help of a Global Investment Bank in this transaction.
Email sent to KKR and PIF did not respond
A spokesperson for Reliance Jio did not answer questions. Mail sent to KKR and PIF did not respond. Since 2014, KKR has invested nearly three billion dollars in technology-focused companies. In India, it invested in Sunil Bharti Mittal’s Bharti Infratel in 2017. He then bought a 10.3 percent stake in the company. It was purchased in association with CPPIB.