Saudi Arabia’s PIF takes $1.3bn stake in India’s biggest retailer

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Thu, 2020-11-05 19:05

LONDON: 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 around 12,000 stores across the country’s strategically important retail sector.
“This investment will further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment,” the PIF said.

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