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Reliance Jio Platforms to sell USD 850 million stakes to L Catterton, TPG

Monday 15 June 2020 14:01 CET | News

US-based private equity companies L Catterton and TPG have announced plans to invest USD 850 million in India-based telecom company Jio Platforms.

L Catterton is the ninth investor to fund Jio, planning to invest USD 250 million. The announcement came after the telecom network said it was selling stake worth USD 600 million to TPG. The new investment, like that of TPG,  values Jio Platforms at USD 65 billion.

Reliance Jio Platforms has now secured more than USD 13.7 billion by selling about 22.3% stake to Facebook, Silver Lake, KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG, and L Catterton.

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Keywords: Reliance Jio Platform, stakes, investment, funding, private equity, India, L Catterton, TPG, Facebook, Silver Lake, KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority
Categories: Banking & Fintech | Payments General
Countries: India
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Banking & Fintech