Silver Lake Partners will invest Rs 7,500 cr in Reliance Retail for a 1.75% stake, comes weeks after Reliance bought a stake in Future Group, led by Kishore Biyani, via its retail unit.
Egon Durban, CEO and Managing Partner of Silver Lake, said in a statement: “We are pleased to deepen our relationship with Reliance. The success of JioMart in such a short time span, especially while India, along with the rest of the world, battles the COVID-19 pandemic, is truly unprecedented, and the most exciting growth phase has just begun.”
