Billionaire Ambani’s firm is expected to acquire 73% stake in Mandarin Oriental New York for $98 million. Reliance Industrial Investments and Holdings will buy the entire issued share capital of Columbus Centre Corp.
New acquisition
The transaction is expected to close by the end of March. It follows Reliance’s purchase of Stoke Park Ltd. in Buckinghamshire. “This acquisition will add to the consumer and hospitality footprint of the group,” Reliance said. Earlier this week, the company bought a 25.8% stake in Dunzo for $200 million.
