Mukesh Ambani's RIL Acquires Another British Iconic Firm 'Stoke Park' For $79 Million
The UK-based firm Stoke Park has hotels and golf course in its kitty which will give a major boost to Reliance’s consumer and hospitality assets.
In another major global acquisition, Mukesh Ambani owned Reliance Industries Ltd (RIL) bought Stoke Park Ltd. for $79 million. The UK-based firm Stoke Park has hotels and golf course in its kitty which will add to Reliance’s consumer and hospitality assets, said the company in a filing on Thursday.
One of the world's richest man RIL chairman & managing director Mukesh Ambani has been stregthening his oil-retail-telecoms conglomerate RIL while extending offerings in the consumer segment.
Earlier, the company bought iconic British toy store Hamleys. Ambani's telecom business emerged as the country's biggest telecom operator by subscribers since starting services in 2016.
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A lot of investors including Facebook Inc, Google and private equity and sovereign wealth funds have invested more than $25 billion into Reliance Industries arm betting on their success.
In 2019, RIL acquired iconic British toy-maker Hamleys for 67.96 million pounds (around Rs 620 crore) in an all-cash deal. Hamleys, a 259-year-old toy-maker, has struggled to generate profits then.
In India, Reliance has the master franchise for Hamleys and presently operates 88 stores across 29 cities. Reliance Brands President and CEO Darshan Mehta said the worldwide acquisition of the iconic Hamleys brand and business places Reliance on the front-line of global retail.
In 2020, social media and tech giant Facebook has invested in Rs 43,574 crore for a 9.99 per cent slice in India's oil-retail-telecoms conglomerate Reliance Industries Limited (RIL) led Jio Platforms - the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the Indian tech sector.
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