Deals
Billionaire Ambani’s Reliance Invests in Oberoi Chain
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Billionaire Mukesh Ambani’s Reliance Industries Ltd. acquired a stake in India’s luxury Oberoi hotel chain, his seventh investment this year as he diversifies from the oil and gas industry that made him Asia’s richest man.
Reliance Industries, operator of the world’s biggest refinery complex, agreed to pay 10.2 billion rupees ($217 million) for a 14.12 percent stake in EIH Ltd., which runs the Oberoi and Trident hotels, according to a statement yesterday.