Deals
Silver Lake Invests Another $602 Million in Reliance’s Jio
- U.S. private equity firm buys additional stake in Reliance arm
- Billionaire Mukesh Ambani attracts investors for online push
This article is for subscribers only.
A group led by Silver Lake Partners agreed to invest another 45.5 billion rupees ($602 million) in Indian conglomerate Reliance Industries Ltd.’s digital arm, in the latest vote of confidence in billionaire Mukesh Ambani’s online push.
The U.S. private equity firm and its co-investors will hold a 2.1% stake in Reliance’s Jio Platforms unit, according to a Mumbai exchange filing Friday. The deal follows Silver Lake’s initial investment of 56.6 billion rupees in the company announced last month.