Reliance Industries to buy out IMG Worldwide LLC from sports management joint venture for Rs 52.08 Crore
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Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) has agreed to buy out IMG Worldwide LLC from their sports management joint venture for Rs 52.08 crore. The nation's biggest company by market value, in a stock exchange filing, said it will buy IMG Worldwide's 50 per cent stake in IMG-Reliance Ltd (IMG-R) for no more than Rs 52.08 crore in cash. RIL will rebrand the company after the closure of the deal.