Reliance ropes KKR for big investment in retail

Top American buyout firm KKR & Co will be investing seven hundred forty-seven  million dollars in Reliance Retail in exchange for a 1.28 percent stake, the second deal stitched up by the Reliance Industries Ltd unit. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said he is  pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march to growing and transforming the Indian Retail ecosystem for the benefit of all Indians. Henry Kravis, Co-Founder and Co-CEO of KKR, said Reliance Retail`s new commerce platform is filling an important need for both consumers and small businesses as more Indian consumers move to shop online and the company offers tools for Kiranas to be a critical part of the value chain. Reliance Retail in its mission to become India`s leading omnichannel retailer and ultimately to build a more inclusive Indian retail economy.