MUMBAI: Reliance Industries Ltd (RIL) has agreed to buy out IMG Worldwide LLC from their sports management joint venture for Rs 520.8 million.
The nation's biggest corporate by market value, in a stock exchange filing on December 24, declared it will buy IMG Worldwide's 50 per cent stake in IMG-Reliance Ltd (IMG-R) for no more than Rs 52.08 crore (Rs 520.8 million) in cash.
RIL will rebrand the company after the closure of the deal.