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Saturday, November 16, 2024

Home Business S Arabia’s PIF takes $1.3b stake in India’s retailer

S Arabia’s PIF takes $1.3b stake in India’s retailer

by News desk
November 7, 2020
in Business

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London

Saudi Arabia’s Public Investment Fund has taken a $1.3 billion stake in India’s biggest retailer. The government fund acquired the 2.04 percent stake in Reliance Retail Ventures (RRVL), it said in a statement on Thursday. It is the latest high-profile international deal concluded by the fund that has increased its global profile this year. Reliance Retail operates about 12,000 stores across the country’s strategically important retail sector.—AN