The deal comes less than two weeks after Facebook made an
investment of $5.7 billion to buy a minority stake in Jio Platforms.
American private
equity firm Silver
Lake has invested Rs 5,655.75 crore in Mukesh Ambani-owned Reliance
Industries’ Jio Platforms. The deal comes less than two weeks after Facebook
made an investment of $5.7 billion to buy a minority stake in Jio. The
investment by Silver Lake values Jio Platforms at an equity value of Rs 4.9
trillion and an enterprise value of Rs 5.15 trillion, and represents a 12.5%
premium on the equity valuation of the Facebook investment announced on April
22, 2020 – said Reliance
Industries in a statement.
“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,” said Mukesh
Ambani, Chairman and Managing Director, Reliance Industries.
Silver Lake is a
prominent investor in technology space. The company has over $40 billion in
combined assets under management and committed capital. Its investments include
Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell
Technologies, Twitter and numerous other global technology leaders.
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