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Indian billionaire businessman leads acquisition of Stoke Park for £57m

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Stoke Park has been acquired by a company led by Indian billionaire businessman Mukesh Ambani for £57m.

The luxury country club and golf resort has been on the market since 2018 and has been bought by Reliance Industries Ltd, a UK-based oil-to-telecom conglomerate, for which Ambani is the largest shareholder.

Reliance Industries Ltd is a Fortune Global 500 company as well as India’s most valuable company by market value.

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The acquisition adds to the company’s current stake in Oberoi hotels and other hotels and managed residences in Mumbai that are currently being developed.

Stoke Park Limited owns and manages the hotel and golf course in Buckinghamshire and will add to Reliance’s consumer and hospitality assets, the firm said in a filing late on Thursday.

“Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds,” it said.

“RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations,” Reliance said.

Stoke Park comprises 49 bedrooms, 27-hole golf course, 13 tennis courts and 14 acres of private gardens. The hotel has featured in many iconic British films, from James Bond to Bridget Jones’s Diary.

This is the second major acquisition of an iconic British company by Ambani. He bought British’s iconic toy store Hamleys in 2019, to strengthen its retail footprint.

Mayer Brown International LLP and Khaitan & Co acted as legal counsels for the transaction, and Ernst & Young UK advised on financial and tax matters.

Tags : acquisitionhotelsStoke Park
Zoe Monk

The author Zoe Monk

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