Reliance buys Britain’s Stoke Park
Stoke Park Limited owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK
New Delhi: Billionaire Mukesh Ambani’s Reliance Industries Ltd has bought Britain’s iconic country club and luxury golf resort, Stoke Park, which featured in James Bond movies, for 57 million pounds (about Rs 592 crore).
The acquisition adds to Reliance’s current stake in Oberoi hotels and hotel/managed residences in Mumbai that it’s developing. Over the past four years, Reliance has announced $3.3 billion in acquisitions, with 80 per cent being in the technology, media, and telecom (TMT) sector.
The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance’s consumer and hospitality assets, the firm said in a filing late on Thursday.
Stoke Park Limited owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe. “RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations,” Reliance said.
This acquisition will add to the consumer and hospitality footprint of the oil-to-telecom conglomerate. The group already has investments in EIH Ltd (Oberoi Hotels) and is developing state-of-the-art convention centre, hotel and managed residences in BKC Mumbai. Reliance is the largest non-promoter shareholder in EIH Ltd.
This is the second major acquisition of an iconic British company by Ambani. He bought British’s iconic toy store Hamleys in 2019, to strengthen its retail footprint. It paid $89 million for Hamleys.
