- May own 100% stake
- Indications are that the competition is now with the Tata Group
The investment is part of an effort to increase its presence in the real estate and hospitality sector. At the same time, it is reported that Mukesh Ambani needs to prepare at least three key business areas to avoid disputes before the asset division process. No less than those who view current acquisitions in this way. Founded in 2003, Mandarin Oriental New York is an iconic luxury hotel located in the 80’s Columbus Circle. The hotel has around 248 rooms and suites. Mandarin is home to many Hollywood stars and billionaires.
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It has been a year since Reliance acquired Stock Park, Britain’s first county club near London, for about Rs 592 crore. If other shareholders in the Mandarin Hotel decide to participate in the sale, Reliance will acquire the remaining 26.63 per cent stake based on the same valuation used to acquire the indirect 73.37 per cent stake. Mandarin Oriental’s revenue is expected to reach $ 115 million in 2018, $ 113 million in 2019 and $ 15 million in 2020. The acquisition was announced by Reliance on Saturday. EIH in the UK. BKC said the group already has investments in Oberoi Hotels Limited and Stock Park Limited. The company also said it was developing a state-of-the-art convention center, hotel and restricted accommodation in Mumbai.
The deal is expected to be completed by March. The acquisition will enable Mukesh Ambani-led Reliance to compete directly with Tata Group’s Indian hotels. Tata is the owner of the famous Pierre and Taj hotel chain. Reliance Retail, a retail arm of Reliance Industries Limited, had yesterday invested in Bangalore-based Dunso. Reliance has entered the fast growing commercial sector. Reliance has invested $ 240 million. With this, Reliance acquired a 25.8 per cent stake in Dunso, an online delivery platform. With the new investment, Reliance has become the largest shareholder in Dunso.
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Dunso Hyperlocal Logistics operates for Reliance Retail Ventures Limited’s retail stores. Dunso is expected to facilitate Geomart’s delivery systems. Recently, Dunso implemented a fast delivery system. Launched in Bangalore, the instant delivery model delivers essential items to customers within 15 to 20 minutes. The investment will help make Danso’s operations in the country more efficient. It will also enable Dunso to expand its B2B business.
Dunso is a leader in the fast-growing commercial market with a market value of over $ 5 billion in the country. Dunso operates in seven metro cities across the country. Current investments are expected to be reflected in Reliance shares in the coming days. Shares of Reliance have been showing strong gains in the past few days. Experts estimate that the share price will reach close to 3,000 by the middle of this year.
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