Mukesh Ambani’s flagship firm Reliance Industries Ltd (RIL) has bought Britain’s iconic country club and luxury golf resort, Stoke Park, for £57 million (Rs 592 crore).
The acquisition adds to Ambani’s current stake in EIH, which is one of the largest luxury hotel chains in India. For the quarter ended March 31, 2021, a Reliance arm — Reliance Strategic Business Ventures Ltd — held 18.83 per cent in EIH.
Incidentally, this is the second major acquisition of an iconic British company by Ambani. He bought Hamleys in 2019 to strengthen its retail footprint.
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 RIL, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Ltd, a company incorporated in the UK, for £57 million,” it said.
Stoke Park 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 added.
This acquisition is expected to add to the consumer and hospitality footprint of the oil-to-telecom major. Reliance is also developing a state-of-the-art convention centre, hotel and managed residences at BKC in Mumbai.
Stoke Park has always had a close relationship with 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 such as mini-break and rowing scenes from Bridget Jones’s Diary (2001) starring Hugh Grant, Renée 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, a 27-hole golf course, 13 tennis courts and 14 acres of private gardens.
Though 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.
