Davis Polk advised Reliance Industries Limited and Reliance Retail Ventures Limited in the transaction.
The Public Investment Fund executed an investment of ?9,555 crore (approximately $1.3 billion) into Reliance Retail Ventures Limited. The transaction is subject to regulatory and other customary approvals.
The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $382 billion. It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia.
Reliance Industries Limited is India’s largest private sector company. Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Limited.
The Davis Polk corporate team included partners Jeffrey R. O’Brien (Picture) and Leo Borchardt and associates Alexander W. Simmonds, Maxim Van de moortel, Jack Kelly and Jordan Jacobs.
Involved fees earner: Leo Borchardt – Davis Polk & Wardwell; Jordan Jacobs – Davis Polk & Wardwell; Jack Kelly – Davis Polk & Wardwell; Jeffrey O’Brien – Davis Polk & Wardwell; Alexander Simmonds – Davis Polk & Wardwell; Maxim Van de moortel – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;