RIL's strategy to expands its Consumer and Hospitality Footprint in India or world, that why Billionaire Mukesh Ambani said late Saturday that Reliance Industry acquired Mandarin hotel group, New york in $98.15 million.
RIL's arm Reliance Industrial Investment and holdings Limited (RIIHL) has acquire entire share capital of the Columbus Centre Corporation (Cayman) and indirect owner of a 73.37 % percent in Mandarin Oriental New york a premium luxury hotel for $98.15 million.
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This is the second hotel acquition by Reliance Industries limited, In april last year Reliance Acquired Stoke park ltd in United Kingdom.
Mandarin Oriental is located at 80 columbus circle, directly adjacent to central park and columbus circle it had revrnue of $115 million in 2018, $113 million in 2019 and $15 million in 2020.
The hotel (Manderin Oriental) was set up in 2003 and also won several Influential Awards.
Reliance Industries already has investment in EIH Limited (oberoi hotel), the Stock Park ltd. in UK and developing state of art Convention centre, hotel and managed residences in BKC mumbai.
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It is also Acquired remaining 26.65% based on the same valuation used for acquistion of indirect 73.37% stake.
In last traded session (friday) Reliance Industries share price is Rs. 2436 with gain of 0.81% (+19.50).
Reliance industries gives nearly 25.64% return in 1 year to their shareholders, and its 52 week high price is Rs. 2751.35.
Managing Director of Reliance Industries is Mr. Pawan Kapil. In RIL's shareholding of promoters is 50.61%, 25.39% hold by Foreign innstitution, 13.16% hold by Retail investors, 6.24% hold by Domestic Institutions and 4.60% hold by Mutual Funds.
Mutual Fund Invested in RIL
- HDFC index sensex direct plan
- SBI nifty index direct plan growth
- UTI nifty index fund direct growth
- HDFC index fund nifty50 plan direct growth.