KKR To Invest $1.5B In India's Jio Platforms, Joins Facebook, Three Other US Firms As Stakeholders
New York-based KKR & Co. Inc. (NYSE: KKR) is investing $1.5 billion in Indian conglomerate Reliance Industries Ltd.'s digital arm Jio Platforms, the latter announced Thursday.What Happened KKR's investment will translate into a 2.3% stake in Jio, which was launched as a mobile network operator in 2016, and has since come to dominate the market in India. The funding puts an enterprise value of $68.3 billion at the Mumbai-based company."Few companies have the potential to transform a country's digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide," the investment firm's Co-Founder and Co-CEO Henry Kravis said in a statement.Why It Matters This is a fifth major investment by a United States-based company in Jio in a month.Facebook Inc. (NASDAQ: FB) was the first to announce an investment of $5.7 billion in the company in late April in exchange for a nearly 10% stake.The social media giant's investment was followed by a $748 million funding from Silver Lake, $1.5 billion fro
21 May 2020 ... Facebook Inc. (NASDAQ: FB) was the first to announce an investment of $5.7 billion in the company in late April in exchange for a nearly 10% ...