Question
Reliance Industries Ltd (RI
- L has announced the acquisition of a controlling stake of __________% in Mandarin Oriental New York, a premium luxury hotel in midtown Manhattan.
Solution
Reliance Industries Ltd (RIL) has announced the acquisition of a controlling stake of 73.37% in Mandarin Oriental New York, a premium luxury hotel in midtown Manhattan. RIL through its wholly-owned arm Reliance Industrial Investments and Holdings Limited has acquired the entire share capital of Cayman Islands-based Columbus Centre Corporation (Cayman), for an equity value of approximately $98.15 million (Rs 735 crore).
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