• Latest
  • Trending
Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

June 7, 2020
Barber shop

London’s Black Barbers Tackle Poverty & Poor Mental Health

February 1, 2023
Hilary Powell and Dan Edelstyn

London Street Transformed into Solar Power Station by Artists

February 1, 2023
All female punk band

Discover England’s All-Female, Middle-Aged Punk Scene!

February 1, 2023
the Wicked Smaht Zone

Generous Group Leaves $4.6K Tip: ‘We were just, tears’ says waitress

February 1, 2023

Oscar (6) Climbs 12 U.K Peaks to Give Poor Kids a Vacation

January 31, 2023
Mummy

Unwrapping History: Oldest & Most Complete Egyptian Mummy Discovered!

January 31, 2023
hygroscopic mortar

Stone to Style: Zero-Waste Recycling in Mallorca Creates Amazing New Material

January 31, 2023
meteorite found in the Antarctic

Antarctica Strikes Gold with Record-Breaking Meteorite Discovery

January 30, 2023
Przewalski horse

U.S. Zoo Cheers as Rare Horse Foal Makes a Comeback from Extinction

January 30, 2023
green energy

Biggest Wealth Fund Dumps Fossil Fuel Investments for a Greener Future

January 30, 2023
Titanosaur Eggs

Egg-cellent Discovery: Indian Paleontologists Unearth 100s of Titanosaur Eggs!

January 27, 2023
The Great Bubble Barrier

The Great Bubble Barrier: A Company that Stops Plastic Waste from polluting the Ocean!

January 27, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Fact Checking Policy
  • Login
Newsum
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • World
  • Inspiring
  • Travel
  • Web Stories
  • Video
  • Advertise
No Result
View All Result
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • World
  • Inspiring
  • Travel
  • Web Stories
  • Video
  • Advertise
No Result
View All Result
Newsum
No Result
View All Result

Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Sonal by Sonal
June 7, 2020
in Business
Reading Time: 1 min read
0
Abu Dhabi-based Mubadala to invest $1.2 billion in Reliance’s Jio Platforms

Image Source: www.financialexpress.com

2
SHARES
9
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on LinkedIn

Abu Dhabi-based sovereign wealth fund Mubadala Investment Company will invest $1.2 billion in Mukesh Ambani’s Reliance Jio platforms in exchange for a 1.85 per cent stake in equity in the business.

This marks the company’s sixth big investment in less than two months, and the company has now raised a whopping $11.6 billion so far. Its most recent investment was from the social media giant Facebook that invested $5.7 billion for a 9.9 per cent stake in the company. However, private equity firms such as SIlver Lake, General Atlantic, Vista Equity Partners, and KKR have also invested in Reliance’s Jio platforms.

Jio Plarforms is the telecom arm of Mukesh Ambani’s Reliance Industries.

“I am delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner [with] us in our journey to propel India’s digital growth,” Ambani, the richest man in Asia, said in a statement.

Mubadala itself has a wide-ranging portfolio that is worth a massive $229 billion, with investments in the mining, aerospace, healthcare, energy, and mining sectors.

“We have seen how Jio has already transformed communications and connectivity in India,” Khaldoon Al Mubarak, managing director and CEO of Mubadala, said in a statement.

Morgan Stanley served as the financial advisor to Reliance Industries whereas AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

It has been claimed that the final aim of Mukesh Ambani is to build a global technology company on the lines of Google, Amazon, and Alibaba. The huge investments will be used to reach these goals as well as reduce the debt of Jio’s parent company, Reliance Industries.

Tags: Mukesh AmbaniReliance Jio
Previous Post

Prince William reveals he is anonymously volunteering for mental health charity

Next Post

New Zealand declared COVID-19 free

Next Post
Jacinda Ardern: NZ PM turned away from cafe as per COVID-19 rules

New Zealand declared COVID-19 free

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Apps
  • Business
  • Car maintenance
  • Cars
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • Health
  • how to
  • Humor
  • Inspiring
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Others
  • Politics
  • Review
  • Science
  • Security System
  • series
  • Space
  • Sports
  • Startup
  • Sustainability
  • Technology
  • Travel
  • Video
  • Wildlife conservation
  • World
Newsum

#FutureOfNews

Follow & Like Us

Download Newsum App

Recent News

Barber shop

London’s Black Barbers Tackle Poverty & Poor Mental Health

February 1, 2023
Hilary Powell and Dan Edelstyn

London Street Transformed into Solar Power Station by Artists

February 1, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Fact Checking Policy

© 2023 SCVPL - Future of News Newsum.

No Result
View All Result
  • News
  • Technology
  • Movie
  • Lifestyle
  • Review
  • Inspiring

© 2023 SCVPL - Future of News Newsum.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version