New York based KKR and Co. become the latest Private Equity firm to invest in JIO platforms.

by mehekkaoberoi
  • New York-based KKR & Co became the latest private equity firm to invest in Jio Platforms Ltd., the telecom and digital services holding company controlled by Ambani’s Reliance Industries Ltd., the Mumbai-based company said in a statement. The private equity fund will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio.
  • Ambani has been selling stakes in Jio in support of a vow to bring net debt of more than $20 billion to zero at his oil, retail and telecommunications group before March 2021.
  • The deals with U.S.-based giants from Facebook Inc. to Silver Lake and General Atlantic bolster Ambani’s plan to shift away from oil and petrochemicals toward faster-growing consumer businesses.
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