RIL to buy 50% stake in IMG Reliance Ltd

Reliance Industries are confirmed on buying a 50% stake in IMG Reliance Ltd, which is currently acquired by IMG Singapore Pte. The deal will be fixed at a cash consideration of not more than Rs 52.08 crore and will make IMG- R a completely owned subsidiary of RIL. IMG is a leading sports and lifestyle management and marketing company and serves as a parent organization to IMG-R.