• About
  • Advertise
  • Privacy & Policy
  • Contact
Newsum
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • Review
  • Inspiring
  • Humor
  • Video
No Result
View All Result
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • Review
  • Inspiring
  • Humor
  • Video
No Result
View All Result
Newsum
No Result
View All Result

Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

SonalbySonal
June 7, 2020
inBusiness
0 0
0
Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Image Source: www.financialexpress.com

2
SHARES
1
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on LinkedIn

Abu Dhabi-based sovereign wealth fund Mubadala Investment Company will invest $1.2 billion in Mukesh Ambani’s Reliance Jio platforms in exchange for a 1.85 per cent stake in equity in the business.

This marks the company’s sixth big investment in less than two months, and the company has now raised a whopping $11.6 billion so far. Its most recent investment was from the social media giant Facebook that invested $5.7 billion for a 9.9 per cent stake in the company. However, private equity firms such as SIlver Lake, General Atlantic, Vista Equity Partners, and KKR have also invested in Reliance’s Jio platforms.

Jio Plarforms is the telecom arm of Mukesh Ambani’s Reliance Industries.

“I am delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner [with] us in our journey to propel India’s digital growth,” Ambani, the richest man in Asia, said in a statement.

Mubadala itself has a wide-ranging portfolio that is worth a massive $229 billion, with investments in the mining, aerospace, healthcare, energy, and mining sectors.

“We have seen how Jio has already transformed communications and connectivity in India,” Khaldoon Al Mubarak, managing director and CEO of Mubadala, said in a statement.

Morgan Stanley served as the financial advisor to Reliance Industries whereas AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

It has been claimed that the final aim of Mukesh Ambani is to build a global technology company on the lines of Google, Amazon, and Alibaba. The huge investments will be used to reach these goals as well as reduce the debt of Jio’s parent company, Reliance Industries.

0

Like this:

Like Loading...
Tags: Mukesh AmbaniReliance Jio

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Prince William reveals he is anonymously volunteering for mental health charity

Next Post

New Zealand declared COVID-19 free

Next Post
Jacinda Ardern: NZ PM turned away from cafe as per COVID-19 rules

New Zealand declared COVID-19 free

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Browse by Category

  • Apps
  • Business
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • Health
  • Humor
  • Inspiring
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Others
  • Politics
  • Review
  • Science
  • Sports
  • Startup
  • Technology
  • Travel
  • Video
  • World
Newsum

Get Inspired Daily

Follow & Like Us

Recent News

Bernie Sanders’ Mitten Maker Flooded With E-Mail Orders

Bernie Sanders’ Mitten Maker Flooded With E-Mail Orders

January 24, 2021
Devoted dog waits for six days outside hospital for sick owner

Devoted dog waits for six days outside hospital for sick owner

January 24, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • News
  • Technology
  • Movie
  • Lifestyle
  • Review
  • Inspiring

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version
%d bloggers like this: