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Mitsui OSK Lines completes acquisition of stake in six group companies of RIL

Mitsui OSK Lines (MOL) has completed acquisition of strategic stake in six group companies (each owning a Very Large Ethane Carrier) of Reliance Industries (RIL).

The company’s wholly owned subsidiary — Reliance Ethane Holding (REHPL), in Singapore having 100% holding in six limited liability companies (LLCs) which own Very Large Ethane Carriers (VLEC), MOL of Japan and a strategic minority investor had signed binding definitive agreements for a strategic investment by MOL and minority investor in the six special purpose limited liability companies (SPVs), each owning a VLEC.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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