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Money News

Abu Dhabi Investment Authority to invest over $750 million in Reliance Retail

FILE PHOTO: A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012. REUTERS/Vivek Prakash/File Photo

BENGALURU (Reuters) - Abu Dhabi Investment Authority (ADIA) will invest 55.13 billion rupees ($751.13 million) in Reliance Industries’ retail arm, giving the unit a pre-money equity value of 4.29 trillion rupees, the Indian conglomerate said on Tuesday.

ADIA’s investment will translate into a 1.20% equity stake in Reliance Retail on a fully diluted basis.

($1 = 73.3960 Indian rupees)

Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Maju Samuel

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