Qatar Investment Authority to acquire a 0.99% stake in Reliance Retail Ventures for $997m.

Qatar Investment Authority, a sovereign wealth fund that protects and grows financial assets and diversifies the economy, agreed to acquire a 0.99% stake in Reliance Retail Ventures, a chain of neighborhood stores, supermarkets, and specialty stores, for $997m. “We are delighted to welcome QIA as an investor in the Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities,” Isha Mukesh Ambani, Reliance Retail Ventures Director.