ADQ is discussing a $35 billion to $40 billion fundraising in Flipkart that would come ahead of a planned IPO that could take place as soon as 2022, the people said, asking not to be identified for information confidentiality.
The Indian e-commerce firm is seeking to raise at least $3 billion.
ADQ paid about $800 million for a 45 percent stake in Louis Dreyfus Company (LDC) last year. The acquisitive investment group also bought the Egyptian pharmaceutical company “Amon” from the Canadian company (Bausch Health) for $740 million.
Abu Dhabi sovereign fund ADQ is in talks to invest about $500 million in India’s Flipkart, as the Walmart Inc.-backed e-commerce firm raises funds ahead of a potential initial public offering next year, Bloomberg reported citing people familiar with the matter.
Copyright: Arab News © 2021 All rights reserved.