Mukesh Ambani is looking to pivot his oil-reliant business toward consumer offerings
Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, bought Stoke Park Ltd. for 57 million pounds ($79 million).
The U.K.-based firm, which owns a hotel and golf course, will add to Reliance’s consumer and hospitality assets, Reliance said in a filing late Thursday.
Mr Ambani, who is also Asia’s richest person, is looking to pivot his oil-reliant business toward consumer offerings. In recent years he has bought iconic British toy store Hamleys and has quickly become India’s biggest telecom operator by subscribers since starting services in 2016. Facebook, Google and a clutch of private equity and sovereign wealth funds have invested more than $25 billion into his businesses betting on their success.
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