Shares of Reliance Industries (RIL) gained nearly 2 percent intraday Friday after the company announced acquisition of British toy maker Hamleys.
Reliance Brands (RBL), a subsidiary of RIL, has signed a definitive agreement to acquire, subject to terms and conditions stated in the agreement, either by itself or through a direct or indirect wholly-owned subsidiary of, and controlled by, RBL, 100% equity shares of Hamleys Global Holdings for a cash consideration of GBP 67.96 million, Reliance Industries said in BSE filing.
Hamleys currently has 167 stores across 18 countries.
Reliance Lifestyle Holdings, a subsidiary of the company, runs and operates the Indian franchise of the Hamleys brand and has 88 stores in India.
No regulatory approvals are required for this investment.
The investment does not fall within related party transactions and none of company’s promoter / promoter group / group companies have any interest in the transaction.
At 10:10 hrs Reliance Industries was quoting at Rs 1,267.95, up Rs 12.80, or 1.02 percent on the BSE.
If you want to know more about our services, please visit Free Stock Tips
No comments:
Post a Comment