• 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
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
Chimpanzee with baby

A Rare Addition: Endangered Western Chimpanzee Born at Chester Zoo!

January 25, 2023
Scalite: A Design Company That is Converting Fish Scales into Tiles!

Scalite: A Design Company That is Converting Fish Scales into Tiles!

January 25, 2023
Colony of penguins

Accidental Discovery from Space Reveals New Emperor Penguin Colony!

January 23, 2023
This Indian Village Plants 111 Trees every time a Baby Girl is born: Tackling Feticides, Global warming & Unemployment!

This Indian Village Plants 111 Trees every time a Baby Girl is born: Tackling Feticides, Global warming & Unemployment!

January 21, 2023
rhinos

Assam, India achieves a new record for 0 Rhino Poaching in 45 years!

January 23, 2023
Alyssa

A Revolutionary ‘Base Editing’ Tech Helps Alyssa (13) to get Cancer Free!

January 20, 2023
Portugal

Portugal to soon Become the First Carbon-Neutral Country in the World!

January 23, 2023
Myosuit by ETH Zürich

ETH Zürich Develops ‘Myoshirt’ to enhance mobility for people with Limited Abilities

January 19, 2023
Carmen Dell'Orefice, oldest model in the world

Carmen Dell’Orefice (91) Becomes The Oldest Active Model In The History Of Fashion

January 19, 2023
Quinn Young

Quinn Young (Age-10) Becomes The Youngest To Climb All 282 Scottish Munros

January 19, 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
  • World
Newsum

#FutureOfNews

Follow & Like Us

Download Newsum App

Recent News

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

© 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