Mukesh Ambani buys British country club Stoke Park for 57 million pounds

The Indian tycoon’s fundraising spree was initially meant to be more of a Plan B.

Billionaire Mukesh Ambani's Reliance Industries Ltd has bought Britain's iconic country club and luxury golf resort, Stoke Park, for 57 million pounds (about Rs 592 crore).

The acquisition adds to Reliance's current stake in Oberoi hotels and hotel/managed residences in Mumbai that it's developing.

Over the past four years, Reliance has announced USD 3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in technology, media, and telecom (TMT) sector, and 6 per cent in energy.

The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, 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.

Stoke Park Limited owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe.

"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.

This acquisition will add to the consumer and hospitality footprint of the oil-to-telecom conglomerate.

The group already has investments in EIH Ltd (Oberoi Hotels) and is developing state-of-the-art convention centre, hotel and managed residences in BKC Mumbai.

This is the second major acquisition of an iconic British company by Ambani, 64. He bought British's iconic toy store Hamleys in 2019, to strengthen its retail footprint.

Stoke Park has always had a close relationship to Pinewood Studios and the British film industry. Two James Bond movies -- Goldfinger (1964) and Tomorrow Never Dies (1997) were filmed at Stoke Park. The epic duel between James Bond (Sean Connery) and Goldfinger (Gert Frobe) is still considered to be the most famous game of golf in cinematic history, the Park stated on its website.

Scenes like mini-break and rowing scenes from Bridget Jones's Diary (2001) starring Hugh Grant, Rene Zellweger and Colin Firth were also filmed at the estate with the Georgian-era mansion set in the midst of 300 acres of parkland.

Stoke Park hosts 49 luxury bedrooms and suits, 27-hole golf course, 13 tennis courts and 14 acres of private gardens.

Although the Stoke Park estate has a recorded history of over 900 years, it was used as a private residence until 1908, according to its official website.

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



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel