Abu Dhabi's Mubadala to invest $853m in India's Reliance Retail

Mukesh Ambani Photo: Reuters.

Abu Dhabi state fund Mubadala Investment Co has agreed to invest 62.48 billion rupees ($853 million) in the retail division of India’s Reliance Industries, the Indian conglomerate said in a statement.

Reliance Retail is on a fundraising spree and has secured around $1.8 billion in the past few weeks from KKR & Co and Silver Lake Partners.

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