Amazon is investing $20 billion in the retail business of India’s Mukesh Ambani’s Reliance Industries Ltd. The Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, Business Standard reports. People, there is a big party happening in India, and America is attending with tons of cash.
This party extends the one of a few weeks ago, “Qualcomm invests $97m in Reliance Jio, hours Google announced it would ship $10 billion. Facebook had dropped some $5.7 billion already. Amazon continues to ship cash to India. And Walmart’s pen has not dried up. Vista Equity Partners is not left out. People, #India is having a great party of a generation. America goes India!”
Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter.Amazon has held discussions about investing in the conglomerate’s Reliance Retail Ventures Ltd. unit and has expressed interest in negotiating a potential transaction, the person said. Mumbai-based Reliance Industries is willing to sell as much as a 40% stake in the subsidiary to Amazon, the person said, asking not to be identified because the information is private.A deal, if successful, would not only create a retail behemoth in India but will also turn Jeff Bezos and Asia’s richest man from rivals into allies in one of the fastest-growing consumer markets in the world. At $20 billion, the deal would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg.
Click to join Tekedia Capital and build Next Africa with min of $10,000 co-investment in startups.