Connect with us

Funding & Investment in Travel

Canadian pensions, Japanese conglomerates, Middle East funds line up in droves

Published

on


About 20 global funds and major investment firms are making a beeline to invest billions of dollars into Reliance Retail as it is widely viewed by international investors as a de facto play on India’s torrid future consumption story

New Delhi: More than a dozen global funds—from Middle East sovereign funds and Canadian pension plans to Japanese conglomerates—are making a beeline to invest billions of dollars into Reliance Retail as the country’s largest retailer is widely viewed by the international investors as a de-facto play on India’s torrid future consumption story.

According to sources Abu Dhabi Investment Authority (ADIA), Saudi Arabia’s sovereign Public Investment Fund (PIF), Emirati fund Mubadala Investment Co. and Singapore’s GIC are looking at increasing their respective stakes in Reliance Retail Ventures Ltd. (RRVL), the holding company of the country’s largest retailer by number of stores and by sales. ADIA, PIF, Mubadala, GIC did not respond to IndiaRetailing’s emails seeking comment.

“All the existing Middle East funds are interested in increasing their stakes,” said a person familiar with the development. He said even though about 20 global funds and major investment firms are vying for a piece of Reliance Retail, chances are most of them would be disappointed as the stake sale this time around is limited.

Another person familiar with the matter said Reliance Retail could raise about $3-4 billion by shedding around 3-4% stake in RRVL in the fresh round as the company looks to retire its debt and make the country’s largest retailer virtually debt-free before a possible initial public offering.

“This fund round will be closed before September 30,” he said asking not to be named.

A Reliance Retail spokesperson said the company does not comment “on media speculation and rumours”.

Then there are new suitors including Kuwait Investment Authority (KIA), Japanese conglomerate of Mitsui and Mitsubishi, British Columbia Investment Management (BCI), AMCO, PSP Investment, Wellington Global and Softbank among others, the sources said.

BCI, PSP and Softbank declined to comment while Mitsui, Mitsubishi, Wellington and the Kuwaiti sovereign fund did not respond to IndiaRetailing’s emails.

Sources also said Ontario Teachers’ Pension Plan (OTPP) has also shown interest in purchasing a stake but the Canadian pension fund said the information is “not true.”

Global funds are queuing up to invest in RRVL as the company—which operates more than 18,000 brick-and-mortar stores and multiple e-commerce ventures—has emerged as the top option for foreign investors to bet on India’s $900 billion annual retail market that is expected to swell to $1.3 trillion in the next few years.

This is the second mega fund-raising round in RRVL. In 2022, Mukesh Ambani-led Reliance Industries Ltd. (RIL) had sold 10.9% in RRVL to a string of global funds including Silver Lake Partners, KKR, TPG, GIC, General Atlantic among others for Rs 47,265 crore, valuing the company at that time at around $62 billion. Now, the valuation of RRVL has gone up to $100 billion, as per the latest round of fund infusion that has happened in the last two months.

Last month, Qatar’s sovereign fund Qatar Investment Authority (QIA) invested $1 billion into Reliance Retail, valuing India’s largest retailer at a whopping $100 billion.

Then on Monday, Reliance Retail announced KKR is hiking its stake from 1.17% to 1.42% in the company as US private equity fund infused an additional Rs 2,069 crore (around $250 million) at the same $100 billion of valuation of RRVL.





Source link

Funding & Investment in Travel

Tourist boat capsizes during a thunderstorm in Vietnam, leaving 18 dead and 23 missing

Published

on

By



… LONG BAY, Vietnam (AP) — A tourist boat capsized during a sudden … most of the passengers were tourists, including about 20 children, from …



Source link

Continue Reading

Funding & Investment in Travel

Palmer’s ‘really special’ grandfather’s island visit sparks tourism buzz in St Kitts

Published

on

By


Chelsea’s Cole Palmer gestures towards the crowd after Chelsea won against Paris St Germain in the FIFA Club World Cup final, at the MetLife Stadium in East Rutherford, New Jersey, U.S., July 13, 2025. Photo: REUTERS

“>



Chelsea’s Cole Palmer gestures towards the crowd after Chelsea won against Paris St Germain in the FIFA Club World Cup final, at the MetLife Stadium in East Rutherford, New Jersey, U.S., July 13, 2025. Photo: REUTERS

Cole Palmer could have gone anywhere around the world to celebrate his magnificent performance in leading Chelsea FC to FIFA Club World Cup glory against Paris Saint-Germain.

But rather than take a well-earned vacation to Las Vegas or an exotic Pacific destination, the Chelsea midfielder opted to visit the tiny Caribbean nation of St Kitts and Nevis, where his grandfather Sterry Palmer was born.

The England international, 23, was given a hero’s welcome when he arrived in St Kitts and was greeted by a series of local dignitaries, including deputy prime minister Dr. Hon. Geoffrey Hanley and the minister of tourism Hon. Marsha T. Henderson.

Palmer’s popularity in St Kitts and Nevis has spiked massively ever since he had the country’s flag stitched into his boots alongside the England badge. It was a small gesture that has gone a long way.

“Landing in St. Kitts off the back of winning the Club World Cup felt really special,” Palmer said. “It’s where my grandad’s love for football started. The island’s beautiful and really chilled. I can’t wait to explore the mountains, rainforest and sea — and to try out the food.”

Following the huge publicity that Palmer’s visit has attracted, local officials are looking to capitalize on the moment from a tourism perspective.

Meanwhile, Atiba Harris, the president of the St Kitts and Nevis FA, told FIFA that he hopes that the Chelsea star’s exploits can help improve the Sugar Boyz’ footballing future from providing inspiration to aspiring pros to increasing the global player pool.

FIFA: Just how big has Cole Palmer’s visit to St Kitts been this week?

Atiba Harris (AH): One of the things we appreciate here in St. Kitts and Nevis is our people in the diaspora community, and to have someone like Cole Palmer come back to his roots… his grandfather was born here so to see that the lineage did not stop and now his grandson is coming back is a testament to strong family ties and values that we offer here. Having Cole Palmer here is a really big deal and is going to inspire the next generation as well.

Was his visit planned or was it something of a surprise?

The officials from St Kitts tourism would have reached out to the Football Association regarding the trip. I was supposed to be at the Club World Cup final, but had to stay behind so I couldn’t get to see him play. But having him here is a pleasure.

What does it say about his ties to the country that he chose to come to St Kitts?

It shows the strong family values, and I must give credit to his grandfather as well to instill this. Usually when people migrate they tend to forget where they come from, but it is not the case here. Cole is here visiting the soil where it all started for his family.

To what extent did Palmer lead to a surge of Chelsea fans on the island?

There is a huge Chelsea following over here and there have been even more ever since he started wearing the flag on his boots. That drew a lot more younger fans closer to him. And you see his trademark (shivering cold) celebration a lot in local competitions.

What inspiration does Palmer provide to current professionals or aspiring stars that someone from their heritage has made it to the very top of the game?

It’s going be an overall inspirational move. He is going to inspire not just the younger generation but the current crop of players who are playing both locally and overseas as well. We have guys like Marcus Rashford as well who I believe could inspire players from the diaspora to come to our national team.

Have there been any conversations with Palmer about doing something concrete with the country going forwards?

I think this is the initial step having tourism involved where he can probably promote the country as a whole. And I’m sure there have been talks with the government about finalizing something with him, along with others like Marcus Rashford.

Were there any conversations about trying to recruit Palmer to play for the national team before he decided to play for England?

He was on the radar. We have a long list of players who are eligible to represent the country. The reality is that England is the ‘home’ of football and if the English national team come calling for you at a young age then you are naturally going to gravitate to the land of your birth. I won’t say it passed us by; I would say he took his opportunity just like others in the past, like Micah Richards to represent the land of their birth, but they never forgot where it started with their family heritage.





Source link

Continue Reading

Funding & Investment in Travel

Banjul North NAM Blast Youth Ministry, Demands Accountability For U16 Basketball Travel Mishap – The Fatu Network

Published

on


– Advertisement –

By Alieu Jallow

The National Assembly Member for Banjul North, Hon. Modou Lamin B. Bah, has expressed strong solidarity with The Gambia’s U16 National Basketball Team following the recent road accident in Guinea that left several players and staff injured.

– Advertisement –

Bah questioned the Ministry of Youth and Sports’ decision to allow the team to travel to Conakry by road, citing it as a serious lapse in judgment and a clear disregard for the safety and well-being of national athletes.

“These are national players representing our country. If cabinet ministers would never take such a risky road trip, why was it acceptable for our youth team?” he asked.

The accident has sparked national concern, especially following reports that a private jet was later chartered to fly the team back home, raising further questions about priorities and fairness.

“If they could afford a private jet after the incident, why couldn’t they secure a commercial flight from the start? This points to poor planning and misplaced priorities,” Hon. Bah said.

– Advertisement –

He further encouraged the injured players and staff to consider legal action against the government.

“They must be compensated adequately and immediately. This was avoidable, and the state must take full responsibility.”

The Banjul North lawmaker stressed that young athletes deserve better protection, investment, and respect.

“We should be building a system that uplifts and protects our youth, not one that endangers them. They deserve better, and we must hold those responsible accountable.”





Source link

Continue Reading

Trending

Copyright © 2025 AISTORIZ. For enquiries email at prompt@travelstoriz.com