American private equity giant Silver Lake Partners has bought 1 percent of Jio Platforms for $750 million in a deal that values the digital unit of Reliance Industries Ltd (RIL) at $65 billion.
Commenting on the transaction with Silver Lake, Mr. Mukesh Ambani, Chairman and Managing Director - Reliance Industries Ltd, said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”
Here are the key highlights of the deal: