Mukesh Ambani's Reliance Brands completes 100% acquisition of Hamleys
In May this year, Reliance Brands, a subsidiary of Reliance Industries, had signed an agreement to acquire 100 per cent stake in Hamleys from Chinese fashion conglomerate C Banner International for about Rs 620 crore
- Jul 18, 2019,
- Updated Jul 18, 2019 9:22 PM IST
A day ahead of its June quarter earnings, Mukesh Ambani-led Reliance Industries on Thursday said that it has completed the acquisition of British toy retailer Hamleys for about Rs 620 crore (GBP 67.96 million) in an all-cash deal.
"Reliance Brands has completed the acquisition of 100 per cent stake of Hamleys Global Holdings (HGHL) through a special purpose vehicle company set up in the United Kingdom for cash consideration of GBP 67.96 million," Reliance Industries said in a filing to the Bombay Stock Exchange on Thursday.
In May this year, Reliance Brands, a subsidiary of Reliance Industries, had signed an agreement to acquire 100 per cent stake in iconic toymaker Hamleys from Chinese fashion conglomerate C Banner International. In 2015, Hong Kong-listed C Banner International had acquired Hamleys in a GBP 100 million deal.
This acquisition will catapult Reliance Brands to become a dominant player in the global toy retail industry.
A day ahead of its June quarter earnings, Mukesh Ambani-led Reliance Industries on Thursday said that it has completed the acquisition of British toy retailer Hamleys for about Rs 620 crore (GBP 67.96 million) in an all-cash deal.
"Reliance Brands has completed the acquisition of 100 per cent stake of Hamleys Global Holdings (HGHL) through a special purpose vehicle company set up in the United Kingdom for cash consideration of GBP 67.96 million," Reliance Industries said in a filing to the Bombay Stock Exchange on Thursday.
In May this year, Reliance Brands, a subsidiary of Reliance Industries, had signed an agreement to acquire 100 per cent stake in iconic toymaker Hamleys from Chinese fashion conglomerate C Banner International. In 2015, Hong Kong-listed C Banner International had acquired Hamleys in a GBP 100 million deal.
This acquisition will catapult Reliance Brands to become a dominant player in the global toy retail industry.