EIH

Rs. 1,021 Crore worth Deal: RIL Purchases 14.12% Stake in EIH Ltd.

Rs. 1,021 Crore worth Deal: RIL Purchases 14.12% Stake in EIH Ltd.

Now, even the hospitality sector will witness Reliance Industries in its vicinity. With Rs. 1,021 crore, the Mukesh Ambani-led Reliance Industries has taken hold of 14.12% stake in EIH. EIH manages the Oberoi brand of hotels and resorts, and the deal has been done with the help of RIL's entirely owned subsidiary Reliance Industries Investment and Holding Private Limited.

These stakes have been bought from Oberoi Hotels Private Limited, as said by RIL, and a few other promoters of EIH Limited.

Joint Venture for EIH Ltd signed for $45 million

Joint Venture for EIH Ltd signed for $45 million

As well upcoming assets aboard EIH Ltd have decided to buy out its venture partner for the global businesses for $45 million to exercise complete control over all major operational. On Wednesday, the company said in a communication to the stock exchanges regarding the buy out plan. EIH Holdings British Virgin Islands currently holds a 54.15 percent share in the JV through its subsidiary and pursuant to the deal.