Saudi Arabia’s Public Investment Fund(PIF) which is among the largest sovereign wealth funds and manages $320 billion in assets, is considering to buy a minority stake in Mukesh Ambani Reliance Industries(RIL).
Amidst the coronavirus pandemic Facebook(FB) and Silver Lake have already invested in Jio. JIo has raised a wopping 8 billion dollars at a time.
Another Saudi entity, Saudi Aramco reports earnings next week and comments are expected about continued due diligence. RIL, in its analyst call, had highlighted that due diligence is ongoing regarding Aramco’s proposed 20 per cent stake purchase in RIL’s petroleum and petrochemical business.
Saudi’s PIF say it wants to become the worlds largest sovereign fund by a mix of domestice and international investments.