Mubadala Investment Company to Invest in Jio Platforms
Posted on 06/05/2020
Abu Dhabi-based Mubadala Investment Company plans to invest Rs 9,093.60 crore (US$ 1.21 billion) for a 1.85% equity stake in Jio Platforms Limited. This is the sixth investment in Jio Platforms, which has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The transaction is subject to regulatory and other customary approvals.
Reliance Industries has sold to date 19% ownership of Jio Platforms. Mubadala joins the chorus of foreign investors in Jio Platforms such as Silver Lake Partners and Facebook.
Advisors
Morgan Stanley acted as financial advisor to RIL and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.