Yes, you heard it right, Mukesh Ambani the owner of Reliance Industries Limited has bought the Country Club Stoke Park at 57 million Pounds. Reliance Industrial Investment and Holdings which is a wholly-owned subsidiary of Reliance Industries Limited purchased this iconic property on the 23rd of April 2021 at 592.625 INR crore. Now RIL will be held responsible to design this property adhering to the planning guidelines and the local regulations.
The matter was cordially handled by Mayer Brown International LLP and Khaitan & Co who took the charge as legal counsellor for the transaction. While on the other hand, Ernst & Young UK dealt with the tax and other financial terms concerning the asset.
The property itself is responsible for managing the leisure facilities of Stoke Poges, Buckinghamshire, UK. The facilities consist of a hotel, conference facility, sports facility and also has one of the top-notch quality golf courses in the entire Europe.
Well, this is the 2nd big venture undertaken by the Ambani’s in the UK. The 1st is the undertaking of the British paragon toy chain. This venture took place back in 2019, to strengthen RIL’s retail platform, to reinforce the current scenario of the oil and chemical conglomerate RIL.
With Stoke Park under RIL, Ambiani’s is all set to enhance the hospitality and consumer footprint of the brand. In fact, the team already invested in EIH Ltd (Oberoi Hotels). In addition, they are looking forward to bringing in, the state of the art convention centre, hotel and managed housing complexes in BKC Mumbai.