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General Atlantic-Reliance Retail deal: 5 key things to know

Earlier in 2020, General Atlantic had invested Rs 6,598.38 crore in Jio Platforms, the telecom unit of Reliance Industries.

October 01, 2020 / 12:19 PM IST

Private equity firm General Atlantic will invest Rs 3,675 crore in Reliance Retail, in its second deal with Reliance Industries (RIL) this year.

Earlier in 2020, General Atlantic had invested Rs 6,598.38 crore in Jio Platforms, the telecom unit of RIL.

Here are five key things to know about the Reliance Retail-General Atlantic deal:

> The transaction gives General Atlantic a 0.84 percent stake in Reliance Retail Ventures (RRVL), RIL said in a statement.

> Morgan Stanley was the financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell served as the legal counsels.

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Also read: General Atlantic-Reliance Retail deal | All you need to know about the PE firm

> The investment values RRVL at a pre-money equity value of Rs 4.28 lakh crore.

> KKR and Silver Lake Partners had earlier in September invested Rs 5,550 crore and Rs 7,500 crore respectively in RRVL. Both transactions valued RRVL at a pre-money equity value of Rs 4.21 lakh crore.

> The deal will give RIL more muscle to compete with rivals such as Amazon and Walmart-owned Flipkart.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.



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Moneycontrol News
first published: Sep 30, 2020 10:32 am
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