The Free Press Journal

Reliance acquires majority stake in US-based skyTran Inc

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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.

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