Deals
Ambani’s Retail Unit Valued at $34 Billion in Share Swap
- Retail unit’s shareholders can swap with stock of the parent
- Ambani is looking for ‘global partners’ for retail business
Mukesh Ambani
Photographer: Qamar Sibtain/Getty Images
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A stock swap offer to help shareholders of billionaire Mukesh Ambani’s unlisted retail business monetize their investment has valued the unit at $34 billion.
Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website. With Reliance’s market capitalization at 9.6 trillion rupees ($135 billion), the share swap values the subsidiary at 2.4 trillion rupees, according to Bloomberg’s calculation.