Breaking: US-based Silver Lake USA Will Invest in Jio Platforms: Reliance Industries

Posted by: Monishankar Choudhury The | Posted: May 4, 2020 10:39 a.m.The | Updated: May 4, 2020 10:39 a.m.

Daily Digital Desk News: After Facebook, the American company Silver Lake is going to invest in Reliance Jio. Reliance Industries made the announcement in a statement Monday. It has been said that the company will invest Tk 5,858 crore or $ 747.84 million in Geo.

[আরও পড়ুন: ‘অসহায় পরিযায়ী শ্রমিকদের ঘরে ফেরার খরচ দেবে কংগ্রেস’, বড় ঘোষণা সোনিয়ার]

The social media giant Facebook also stepped on the digital platform last April. The company purchased a 9.9 percent stake in Reliance Jio for Rs 43,584 crore. Soon after, Facebook co-founder Mark Zuckerberg said they had married Geo to increase the number of Facebook users worldwide. Following that path, Silver Lake, a US private equity firm, entered the digital platform and due to the company’s investment, Geo’s total market value in Indian currency increased to Tk 4.90 lakh crore.

Commenting on the investment, Mukesh Ambani, Director of Reliance Industries, said: “I welcome Silver Lake as a very important partner. The move will benefit Indian consumers of India’s digital ecosystem and digital platform. ” Meanwhile, Egan Durban, one of Silver Lake’s top executives, said: “The Geo Platform is one of the world’s leading companies. At the forefront of this is a very strong and innovative management team. We are honored to collaborate with Mukesh Ambani. “

Mukesh Ambani has been named the richest man in Asia after Reliance Jio’s unprecedented deal with Facebook. However, the burden of debt has also fallen on Mukesh Ambani’s company. Reliance has been trying to diversify its business for some time to ease that pressure. Reliance Petro is considering selling 20 percent of its stake to the Saudi Aramco oil refinery for $ 15 billion. A separate deregulation proposal is also being discussed with Google.

[আরও পড়ুন: ‘ভিনরাজ্যে থাকা মানেই শ্রমিক স্পেশ্যাল ট্রেনের সুবিধা নয়’, নয়া নির্দেশিকা কেন্দ্রের]