Uruguayan firm Dreketi is now subsidiary of RIL

Currently, Dreketi is not engaged in any business activity, RIL said in a filing with the Bombay Stock Exchange (BSE).

“This is to inform that Reliance Industries Limited (the company) has acquired stake in a newly incorporated entity viz Dreketi S.A. in Uruguay (hereinafter called 'Dreketi') and consequentially Dreketi has become wholly-owned subsidiary of the company. Currently, Dreketi is not engaged in any business activity,” the filing said.

“This is a part of company's plan to strengthen its marketing efforts in Latin American region,” it added. (RKS)

Fibre2Fashion News Desk – India