Carlyle said to be eyeing a $2b stake in Reliance’s retail arm

Photo: Reuters

Carlyle Group is looking to invest $1.5-2 billion to buy a stake in Reliance Retail Ventures, said two people aware of the development, joining a string of marquee investors that are keen on buying stakes in units of Mukesh Ambani-led Reliance Industries Ltd.

If a deal is finalised, it will mark Carlyle’s first investment in the retail sector in India and its biggest so far in an Indian company. “The retail story (of Reliance Retail) is certainly a bright spot,” one of the two people cited above said, requesting anonymity.

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