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Mukesh Ambani’s RIL buys Britain’s iconic country club Stoke Park for Rs 592 crore

Mukesh Ambani’s RIL buys Britain’s iconic country club Stoke Park for Rs 592 crore
Image Source : PTI/FILE

Mukesh Ambani’s RIL buys Britain’s iconic country club Stoke Park for 57 million kilos

Billionaire Mukesh Ambani’s Reliance Industries Ltd has purchased Britain’s iconic country club and luxurious golf resort, Stoke Park, for 57 million kilos (about Rs 592 crore). The acquisition provides to Reliance’s present stake in Oberoi lodges and resort/managed residences in Mumbai that it is creating.

Over the previous 4 years, Reliance has introduced USD 3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in expertise, media, and telecom (TMT) sector, and 6 per cent in power.

The UK-based agency, which owns a resort and golf course in Buckinghamshire, UK, will add to Reliance’s client and hospitality property, the agency stated in a submitting late on Thursday.

“Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds,” it stated.

Stoke Park Limited owns and manages sporting and leisure services in Stoke Poges, Buckinghamshire, UK. The services embrace a resort, convention services, sports activities services and one of many highest rated golf programs 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 stated.

This acquisition will add to the buyer and hospitality footprint of the oil-to-telecom conglomerate. The group already has investments in EIH Ltd (Oberoi Hotels) and is creating state-of-the-art conference centre, resort and managed residences in BKC Mumbai.

This is the second main acquisition of an iconic British firm by Ambani, 64. He purchased British’s iconic toy retailer Hamleys in 2019, to strengthen its retail footprint.

Stoke Park has at all times had a detailed relationship to Pinewood Studios and the British movie business. Two James Bond films — Goldfinger (1964) and Tomorrow Never Dies (1997) had been filmed at Stoke Park.

The epic duel between James Bond (Sean Connery) and Goldfinger (Gert Frobe) remains to be thought of to be essentially the most well-known recreation of golf in cinematic historical past, the Park said on its web site.

Scenes like mini-break and rowing scenes from Bridget Jones’s Diary (2001) starring Hugh Grant, Renée Zellweger and Colin Firth had been additionally filmed on the property with the Georgian-era mansion set within the midst of 300 acres of parkland.

Stoke Park hosts 49 luxurious bedrooms and fits, 27-hole golf course, 13 tennis courts and 14 acres of personal gardens.

Although the Stoke Park property has a recorded historical past of over 900 years, it was used as a non-public residence till 1908, in response to its official web site.

Mayer Brown International LLP and Khaitan & Co acted as authorized counsels for the transaction, and Ernst & Young UK suggested on monetary and tax issues.

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