RIL to accumulate IMG stake in sports activities & vogue JV IMG-R


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Reliance Industries Ltd (RIL) lately entered into definitive agreements to accumulate the shares held by IMG Singapore Pte Ltd in IMG Relienace Ltd (IMG-R), a three way partnership between IMG Worldwide LLC and RIL, for a money consideration not exceeding ₹52.08 crore. Publish the acquisition, IMG-R will develop into a wholly-owned subsidiary of RIL and can be rebranded, RIL mentioned.

IMG-R is engaged within the enterprise of creation, administration, implementation and commercialisation of sporting, vogue and leisure occasions in India.

IMG Singapore Pte Ltd, an entirely owned subsidiary of IMG, holds 50 per cent of the share capital of IMG-R.

No governmental/regulatory approvals are required for the aforesaid acquisition and the acquisition is anticipated to be accomplished throughout this calendar yr, RIL mentioned in a company announcement.

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Reliance Industries Ltd (RIL) lately entered into definitive agreements to accumulate the shares held by IMG Singapore Pte Ltd in IMG Relienace Ltd (IMG-R), a three way partnership between IMG Worldwide LLC and RIL, for a money consideration not exceeding ₹52.08 crore. Publish the acquisition, IMG-R will develop into a wholly-owned subsidiary of RIL and can be rebranded, RIL





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