RIL Completes The Acquiring Of IMG's Stakes In Sports Management Joint Venture
Reliance Industries Ltd (RIL) had informed that it has completed the acquisition of IMG Worldwide LLC's stake in their sports management joint venture IMG Reliance Ltd (IMG-R). The acquisition of equity shares of IMGR was completed on Monday. After this IMG-R has become a wholly-owned subsidiary of the company. Earlier last week RIL informed that it would buy out IMG Worldwide LLC from their sports management joint venture (JV) for Rs 52.08 crore.
IMG which operates in more than 30 countries, and is a part of the Endeavor network is a global leader in sports, fashion, events, and media