Mubadala to invest $1.2 billion in Jio Platform:
Indias one of the biggest company reliance industries Ltd revealed on Friday that, Abu Dhabi state fund MUBADALA investment is willing to buy a 1.85% stake in its digital unit, Jio platforms, for $1.21Billions.
Till now reliance industries have sold a combined 19% interest in JIO platforms in six fundraising deals including a 9.99% for Facebook INC for $5.7Billon. Jio is making a plan to become a dominant player in India’s digital economy. Reliances retail network to expand into e-commerce. The Jio platforms investment is the largest in an Indian firm by Mubadala, which is the 2nd biggest state investor in Abu Dhabi after Abu Dhabi Investment Authority, about 240billion dollars in assets.
Morgan Stanely served as financial service for reliance industries, reliance company said in the last statement.
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