Abu Dhabi’s Sovereign Fund ADIA to Invest Rs 5,512.5 Crore in Reliance Retail for 1.2% Stake

Reliance, he said, hopes to benefit from ADIA’s strong track record of over four decades of value creation globally. Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said, “Reliance Retail has rapidly established itself as one of the leading retail businesses in India and, by leveraging both its physical and digital supply chains, is strongly positioned for further growth”.

“This investment is consistent with our strategy of investing in market-leading businesses in Asia linked to the region’s consumption-driven growth and rapid technological advancement,” he said. The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Retail, and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels. The new funding comes weeks after Reliance acquired the retail, wholesale, logistics and warehouse business of Future Group for an enterprise value of Rs 24,173 crore to consolidate its dominant market positioning in offline retail.