The Investment Fund invests $ 1.3 billion in India’s Reliance

Today, the Public Investment Fund announced the signing of an investment agreement of approximately $ 1.3 billion in Reliance Retail Ventures Limited, a leader in the growing retail sector in India, to acquire a 2.04% stake in the company. The fund’s previous acquisition of a 2.32% stake in the Geo Platforms platform, the digital services company of Reliance Industries, and the deal comes as an extension of the fund’s efforts to build a diversified international investment portfolio in innovative and pioneering companies worldwide. One of the most promising sectors, and the Governor of the Public Investment Fund – Yasser bin Othman Al-Rumayyan affirmed that this deal confirms the fund’s commitment to investing and long-term partnership with innovative companies that lead their sectors and make a shift in them. The term of the fund, in order to achieve the goals of diversification of income sources, and as a subsidiary of Reliance Industries, Reliance Retail Company Ltd. The largest and fastest growing retail company in India, with up to 640 million visits across 12,000 stores spread across India, the company is making a fundamental change in the promising retail sector in India through its new strategy of enabling millions of small and medium business owners to use electronic platforms. . On his part, Chairman and CEO of Reliance Industries, Mukesh Ambani, said: “We at Reliance have a long and fruitful relationship with the Kingdom of Saudi Arabia, and we look forward to obtaining the fund’s support and constant guidance in a way that enhances our efforts to continue our ambitious march to transform the retail sector in India.

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