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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

AMAZON.COM, INC.

(AMZN)
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Amazon com : Silver Lake to invest $1 billion in retail arm of India's Reliance

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09/09/2020 | 03:35am EDT
FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad

Reliance Industries Ltd said on Wednesday U.S. private equity firm Silver Lake Partners will invest $1.02 billion in its retail business, helping the Mukesh Ambani-controlled company widen its lead as India's biggest retailer.

The move also sets the stage for a three-way battle between Asia's richest man, Jeff Bezos' Amazon.com Inc and Walmart Inc's Flipkart to rope in the Indian middle class customer, many of whom are newly adopting online purchases of food and groceries due to the COVID-19 pandemic.

In May, Reliance launched online grocery service JioMart. It has been aggressively building its retail presence through acquisitions, moving beyond its mainstay oil and gas business.

Silver Lake will get a 1.75% stake in Reliance Retail, giving the business a pre-money equity value of 4.21 trillion rupees ($57.14 billion), Reliance said https://www.bseindia.com/xml-data/corpfiling/AttachLive/7de51cca-6592-4aa6-a06c-da43f7272cd5.pdf. Powered by Reliance's Jio tech platform, the unit owns retail businesses as varied as grocery stores and fashion chains, and operates close to 12,000 stores.

"The real competition is going to be between Amazon, Walmart and Reliance," said Harminder Sahni of retail consultancy Wazir Advisors. "Walmart is self-funded and Amazon is too, so the company to bet on now is Reliance."

Reliance, which has been on a fund-raising spree, saw its share price rise as much as 1.5% in a weak Mumbai market.

Silver Lake, whose portfolio includes stakes in Airbnb and Twitter Inc, has previously invested in Reliance's digital business as part of a funding round that saw the Indian company raise more than $20 billion from investors including Facebook Inc and Alphabet Inc's Google.

KKR & Co Inc is in advanced talks to invest at least $1 billion in Reliance Retail, Bloomberg reported on Wednesday, citing people familiar with the matter. Reliance declined to comment on the report when contacted by Reuters.

($1 = 73.6850 Indian rupees)

By Sankalp Phartiyal and Chris Thomas


Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.52% 3211.01 Delayed Quote.73.77%
SILVER 0.63% 23.456 Delayed Quote.31.53%
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Financials (USD)
Sales 2020 370 B - -
Net income 2020 16 553 M - -
Net cash 2020 55 489 M - -
P/E ratio 2020 99,4x
Yield 2020 -
Capitalization 1 608 B 1 608 B -
EV / Sales 2020 4,20x
EV / Sales 2021 3,49x
Nbr of Employees 798 000
Free-Float 81,3%
Chart AMAZON.COM, INC.
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Amazon.com, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 53
Average target price 3 743,40 $
Last Close Price 3 211,01 $
Spread / Highest target 40,1%
Spread / Average Target 16,6%
Spread / Lowest Target 4,64%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Dave Clark Senior Vice President-Worldwide Operations
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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