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Qatar Investment Authority in talks to acquire $1 billion stake in Reliance Retail

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Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, is currently in talks to acquire a stake worth $1 billion in India’s Reliance Retail, the retail venture of Mukesh Ambani’s Reliance Industries. The potential investment comes ahead of Reliance Retail’s plans for an initial public offering (IPO).

A spokesperson from Reliance Industries stated that the company regularly evaluates various opportunities but refrained from commenting on market speculations and rumors.

Sources suggest that the talks between QIA and Reliance Retail are in the early stages, and the sovereign wealth fund may acquire about 1% stake in the retail venture. However, the deal has not been finalized yet, and it is subject to approval from QIA, which could lead to changes.

In recent years, Reliance Retail has already completed the sale of approximately 10% stake to various investors, including private equity firms Silver Lake Partners, KKR, GIC, TPG, and General Atlantic, along with sovereign wealth funds Mubadala, ADIA, and PIF. The potential investment from QIA would further add to the list of prominent investors in Reliance Retail.

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