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Top sovereign funds from Middle East interested in Mukesh Ambani’s Jio Platforms: Report

Jio has already raised $10.3 billion in over month from major global investors like Facebook, Silver Lake, KKR and others.

SNS | New Delhi |

Three major Middle Eastern sovereign wealth funds are reportedly in talks with Indian conglomerate Reliance Industries Ltd. (RIL) to invest in the firm’s digital arm, Reliance Jio.

As per a Bloomberg report, among the three firms, Abu Dhabi’s Mubadala Investment Co. is the one that is soon expected to close a deal worth $1 billion.

Other two firms, Abu Dhabi Investment Authority and Saudi Arabia’s The Public Investment Fund are also in talks with Reliance Jio. However, as of now, it is not clear how much these companies will invest in Reliance Jio.

Any new addition or investment would further give a boost to Reliance Jio as the young telecom is in its early preparation stage for an overseas listings.

Jio has already raised $10.3 billion in over month from major global investors like Facebook, Silver Lake, KKR and others.

Among all, KKR & Co. became the latest investor to put $1.5 billion in Reliance Industries’ digital arm for its 2.32 per cent stake.

Earlier, Facebook invested $5.7 billion for 9.99 per cent stake; Silverlake bought 1.2 per cent stake in Jim for $750 million.

Similarly, Vista Equity Partners also invested $ 1.5 billion for 2.3 per cent stake and General Atlantic gave $870 million for 1.34 per cent stake.