Business collaborations are in full swing in this era of Pandemic. Private equity firm Silver Lake Partners is in talks to invest $1 billion in the retail arm of Reliance Industries Ltd, a leading financial daily reported on Thursday, citing people with direct knowledge of the matter. The investment, which would value Reliance Retail at about $57 billion, comes as the company is striving to sell about 10% in new shares, the report added. Silver Lake refused to comment on the report, while Reliance could not immediately be reached outside of normal business hours.

Mukesh Ambani's Reliance Industries acquires Future Group’s retail business for Rs 24,713 crore

Reliance, an oil-to-telecoms conglomerate controlled by India's richest man, Mukesh Ambani, is pitching its retail business as a formidable force in the world's second most populous country, expanding rapidly to impress its potential investors. The company has raised more than $20 billion from global investors including Facebook Inc by selling stakes in its Jio Platforms digital business and has said it aims to attract investors to Reliance Retail over the next few quarters. In late August, Reliance said it would acquire the retail and logistics businesses of India's Future Group in a deal valued at $3.38 billion, including debt.

Reliance Entertainment joins hands with producer Ashiq Usman for Hindi remake of this Malayalam film

Reliance Retail is controlled by Ambani's holding company, Reliance Industries, and was founded in 2006 as a brick-and-mortar retail business selling groceries, electronics and more. Last year, Reliance bought British toy chain Hamleys and also operates Indian outlets of global brands like jeweler Tiffany, reported a leading financial daily. Last week, Reliance also agreed to buy the retail and logistics arm of India's second-largest retailer Future Group.

Get 2GB daily data at a very low monthly cost, know the plan