October 2020 \ Business & Investment \ BUSINESS—FDI IN INDIA
Silver Lake to invest over USD 1 billion in Reliance Retail

Reliance Industries Limited (RIL) September ...

                                                        Mr Egon Durban

“We believe technology will be key to bringing the much-needed transformation in this sector so that the various constituents of the retail ecosystem can collaborate to build inclusive growth platforms. Silver Lake will be an invaluable partner in implementing our vision for Indian Retail,” he added.

Egon Durban, Co-CEO and Managing Partner of Silver Lake, said, “The success of JioMart in such a short time span, especially while India, along with the rest of the world, battles the COVID-19 pandemic, is truly unprecedented, and the most exciting growth phase has just begun. Reliance’s New Commerce strategy could become the disruptor of this decade. We are thrilled to have been invited to partner with Reliance in their mission for Indian Retail.” The transaction is subject to regulatory and other customary approvals.