Tuesday , October 19 2021

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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