Reliance Industries (RIL) has announced that wholly-owned subsidiary Reliance Industrial Investments and Holdings Limited (“RIIHL”) acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for £57 million (approximately Rs592cr).
RIL said that this acquisition will add to the consumer and hospitality footprint of the group. The group already has investments in EIH Ltd (Oberoi Hotels) and is developing a state-of-the-art convention centre, hotel and managed residences in BKC Mumbai.
Also, RIL stated that RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations.
Mayer Brown International LLP and Khaitan & Co acted as legal counsels for the transaction, and Ernst & Young UK advised on financial and tax matters.
Stoke Park owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest-rated golf courses in urope.
At around 2.28 pm, RIL was trading at Rs1900.55 per piece down by 0.3% on Sensex.