Facebook to acquire 9.9% stake in Jio Platforms via Jaadhu Holdings

Facebook has announced in April 2020 to acquire 9.9 per cent stake in Jio Platforms, at an investment of USD 5.7 billion (Rs 43,574 crore).
As per a nee notification, Facebook will acquire this stake in Jio Platforms via a new entity named Jaadhu Holdings LLC.
According to a submission made to the Competition Commission of India, Jaadhu Holdings, LLC is an indirect wholly owned subsidiary of Facebook, Inc.
Jaadhu is a newly incorporated company formed in March 2020 under the laws of the State of Delaware, US…Jaadhu is not engaged in any business in India or anywhere in the world.