Mukesh Ambani will sell his business, deal fixed for how much rupees

On one hand, Reliance Industries is going through its best phase and the company’s share is at record level. On the other hand, he has finalized the deal to sell one of his companies. The special thing is that the company which Mukesh Ambani is selling, he had bought 28 months ago in October 2021. The surprising thing is that at that time he had bought this unit for 771 million dollars. Whereas when it comes to selling this company, they are selling it for only 221 million dollars. Let us also tell you to whom Mukesh Ambani is selling this company.

This company of Ambani is being sold

Reliance Industries Limited (RIL) said that it is going to sell its unit REC Solar Norway AS to Alkem ASA for about $22 million. REC Norway is a wholly owned unit of REC Solar Holdings, controlled by Reliance. It manufactures polysilicon in Norway. A unit of Reliance had acquired this solar panel maker in October 2021 at a price of $771 million.

Information given to stock market

Reliance has informed the stock market about selling this company. REC Solar Holdings AS, a wholly-owned subsidiary of RIL, has informed that it has entered into a share purchase agreement worth $22 million with Alkem ASA for the sale of 100 per cent of its shares on January 14, 2024, the company said. RIL said that this transaction is subject to certain regulatory and other conditions and the deal is expected to be completed by April 2024.