– What is the “Reliance” retail sale?
The Saudi Investment Fund acquired 2.04 percent of the value of the leading retailer.
What were the motives behind the fund’s investment in Relanes?
The company is the largest and fastest growing retail company in India with over 640 million visits across 12,000 stores spread across India.
The Saudi Public Investment Fund said that it had signed an agreement to invest about $ 1.3 billion in “Reliance”, a pioneer in the retail sector in India; By acquiring a 2.04 percent stake in it.
The deal comes within the Saudi Fund’s attempts to invest in sectors and companies that achieve attractive long-term financial returns.
Reliance Retail Limited is considered a pioneer in this field in India and one of the largest and fastest growing retail companies in India, and gets up to 640 million visits through 12,000 stores spread across India, according to the Saudi newspaper.
The Saudi newspaper Al-Eqtisadiah quoted the Governor of the Public Investment Fund, Yasser Al-Rumayyan, that the deal confirms the fund’s commitment to investment and long-term partnership with innovative companies that lead their sectors and make a transformation in them.
Al-Rumayyan added, “Investing in Reliance Retail Sector Ltd. will enable us to achieve long-term financial returns for the Public Investment Fund, in order to achieve the goals of diversifying sources of income.”
The Public Investment Fund seeks to diversify its international investment portfolio in an effort to diversify sources of income and achieve attractive long-term financial returns.
The fund previously acquired a 2.32 percent stake in the “Geo Platforms” platform, the digital services company of Reliance Industries.
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