Deals
Ambani Sells $1.5 Billion Jio Stake to KKR, Extending Fundraising Streak
- KKR buys $1.5 billion stake in Reliance’s Jio Platform
- Ambani draws funds, Facebook to bet on India’s digital future
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Mukesh Ambani, Asia’s richest man, has lured more than $10 billion of investment for his India-based digital platform business in a month, even as the economy struggles under the world’s most stringent lockdown to prevent the spread of the coronavirus.
New York-based KKR & Co. on Friday became the latest private equity firm to invest in Jio Platforms Ltd., the telecom and digital services holding company controlled by Ambani’s Reliance Industries Ltd., the Mumbai-based company said in a statement. The private equity fund will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio.