Silver Lake Partners invests Rs 5,655.75 crore in Reliance Jio
04-05-2020 12:33:04
By :Shrishti Nagar
By :
US private equity giant Silver Lake Partners has bought a one per cent stake in Reliance's Jio platform for Rs 5,655.75 crore. The deal came at a time when less than two weeks ago Facebook bought a 9.99 percent stake in Jio. RIL's wholly owned Reliance Jio Infocomm
Limited provides connectivity platforms to over 388 million customers.
Let us know that recently, American social media company Facebook had invested in Mukesh Ambani's Reliance Industries company Reliance Jio. Facebook had entered into an agreement to buy 9.99 per cent stake of Reliance Jio for Rs 5.7 billion i.e. Rs 43,574 crore. During the lockdown, it was seen as the biggest deal in the whole world.
Reliance Jio has said in a press release on the deal that in view of the severe economic crisis caused by the COVID-19 pandemic, this deal from Silver Lake globally and especially within India will be an important component of the revival of the Indian economy. . Commenting on the deal with Silver Lake, Mukesh Ambani, chairman and managing director of Reliance Industries, said, "The Silver Lake firm has an excellent record of partnerships with big technology companies around the world. Silver Lake Company is very popular in terms of technology and finance.
