“Reliance is delighted to partner with D E Shaw group in the financial services domain. D E Shaw group is a natural partner for Reliance. Together, we look forward to participating in the growing Indian financial services sector,” RIL Chairman and Managing Director Mukesh Ambani said. The christening of the joint venture, its shareholding pattern and the areas of financial services it intends to enter are being finalised, a company source said.
“This joint venture will incorporate D E Shaw group’s investment and technology expertise with Reliance’s operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace,” RIL said.
Published 27 March 2011, 16:24 IST