Reliance acquires majority stake in US-based skyTran Inc
Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiar y of Reliance Industries Limited (RIL), announced on Sunday that it has acquired majority stake in its investee company skyTran Inc for a consideration of $26.76 million. With this transaction, RSBVL has increased its shareholding to 54.46% on a fully diluted basis, RIL said in a statement.