Business

Reliance buys New York’s luxury hotel Mandarin Oriental for USD 98.15 mn

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Billionaire Mukesh Ambani’s Reliance Industries Ltd on Saturday announced acquisition of New York’s premium luxury hotel Mandarin Oriental for USD 98.15 million.

Set up in 2003, Mandarin Oriental, New York is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.”Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly owned subsidiary of Reliance Industries Limited, has today, entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, one of the premium luxury hotels in New York City for an equity consideration of approximately USD 98.15 million,” the firm said in a stock exchange filing.

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