Carlyle may take $2 billion stake in retail arm of India’s Reliance: Mint

BENGALURU (Reuters) – Private equity firm Carlyle Group is looking to invest up to $2 billion in Indian conglomerate Reliance Industries’ retail business, financial daily Mint reported on Monday, citing people aware of the development.

The deal, if finalized, would be Carlyle’s biggest investment in an Indian company and would be its first in the country’s retail sector, the paper reported.

Reliance and Carlyle did not immediately respond to Reuters’ requests for comment.

(Reporting by Derek Francis and Chris Thomas in Bengaluru; Editing by Anil D’Silva)