Hot topics | Coronavirus pandemic

Amazon Is Considering Buying A Stake In The Indian Reliance Division For $20 Billion

Amazon Is Considering Buying A Stake In The Indian Reliance Division For $20 Billion

Indian diversified company Reliance Industries Ltd. wants to sell a stake worth about $20 billion in its retail business to the American company Amazon, according to Bloomberg, citing a source familiar with the situation.

"Amazon has negotiated investment in the Reliance division-Reliance Retail Ventures Ltd. - and expressed interest in discussing a potential deal," the agency quoted the source as saying. He also added that Reliance Industries is ready to sell Amazon up to 40% of its subsidiary's shares.

The agency estimates that for $20 billion, the deal will be the largest in India's history, as well as the largest for Amazon.

Reliance Industries Limited (RIL), an Indian multi-industry Corporation, is engaged in the exploration and production of hydrocarbons, oil refining, and sales of petroleum products. Besides, it is engaged in telecommunications and retail. RIL has a headquarter in Mumbai.

Amazon is one of the world's largest online retailers. In addition to the United States, the company operates in Canada, China, Brazil, Japan, and Europe. The online store Amazon.com was launched in July 1995.

You may also like: