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.
