New York: Reliance Industries Ltd (RIL), is India's largest corporate by revenues, profits, and market value, has announced the acquisition of Mandarin Oriental Hotels flagship New York City property in Columbus Circle for an "equity consideration of approximately $98.15 million". This is the latest addition to RIL's acquisitions worth $5.6 billion across eight verticals (Morgan Stanley aggregation a day before the Mandarin Oriental deal).

Located at 80, Columbus Circle, Mandarin Oriental's New York property is on the corner of Central Park, New York City's largest green space. Its rooms overlook the Hudson River and are steps away from the Broadway Theater District, Lincoln brand counts Irish-born actor Center, Central Park, and about of 'Schindler's List' and 'Taka 300-acre setting for two 20 minutes by foot from Times Square. Mandarin Oriental operates in 24 countries, including six hotels in the United States. The Reliance buyout of Mandarin Oriental's New York property is expected to close by March 2022, according to a company disclosure to stock exchanges dated January 8.

Source-IANS