Uruguayan firm Dreketi is now subsidiary of RIL

12 Dec '17

1 min read

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)

ALCHEMPro News Desk – India

More Reliance Industries Limited News... More Textiles News - India...