Deals
India’s Ambani Nears Deal With Top Mideast Sovereign Funds
- Mubadala is nearing deal to invest $1 billion in Jio Platforms
- Reliance is also in advanced talks with ADIA, Saudi’s PIF
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Three of the largest Middle Eastern sovereign wealth funds are in advanced talks to invest in Reliance Industries Ltd.’s digital arm, people familiar with the matter said, potentially adding to the roster of marquee investors that have piled into the business.
Abu Dhabi’s Mubadala Investment Co. is nearing a deal to invest about $1 billion into Jio Platforms Ltd. and an announcement could come as soon as this week, said the people, who asked not to be identified as the information is private. Reliance, backed by Asia’s richest man Mukesh Ambani, is also in discussions with Abu Dhabi Investment Authority and Saudi Arabia’s The Public Investment Fund, the people said.