News > Reliance to buy control of New York’s Mandarin Oriental hotel for $98 million

Reliance to buy control of New York’s Mandarin Oriental hotel for $98 million

Reliance Industries Ltd is paying almost $100 million for a controlling stake in Mandarin Oriental New York, a five-star resort in midtown Manhattan, by the acquisition of its Cayman Islands-based guardian.

Reliance mentioned in an inventory change submitting on Saturday its industrial investments subsidiary will purchase Cayman Islands-based Columbus Centre Corp (Cayman) for a fairness worth of roughly $98.15 million.