Reliance Capital, owned by Anil Ambani, is in talks with foreign investors to sell a 42.88 percent stake in its mutual fund business, Reliance Nippon Life Asset Management, Business Standard reported.
Abu Dhabi Investment Authority (ADIA), Mubadala, Temasek, the Ontario Teachers' Pension Plan, Blackstone and The Carlyle Group are the investors the company is in talks with for the stake sale, the report said.
An offer by Nippon Life, the company with which Reliance's MF business is in a JV with, is expected to come out with its offer by a week after the former asked the JV partner to buy out the stake, said the report.
However, Reliance has begun talks with other potential investors in case they choose to reject the offer by Nippon, the report added.
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