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Uruguayan firm Dreketi is now subsidiary of RIL
12
Dec '17
Uruguayan firm Dreketi is now subsidiary of RIL
India based Reliance Industries Limited (RIL), one of the top 10 global petrochemical producers, has acquired stake in a newly incorporated entity Dreketi S.A. in Uruguay. Consequently, Dreketi has become wholly-owned subsidiary of RIL. The acquisition of Dreketi is a part of RIL’s plan to strengthen its marketing efforts, in Latin American region.

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


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