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Toymaker Hamleys Acquired by Reliance India

StockWatch India - Sun, 05/12/2019 - 10:19
The Indian business giant Reliance reached in an agreement with British toy manufacturer Hamleys to acquire them. The C Banner International Holdings, a Hong-Kong listed company that owns Hamleys signed the agreement with Reliance. According to a statement by Reliance, the deal will “catapult Reliance Brands to be a dominant player in the global toy retail industry”. The Economics Times reported that the deal between the two firms is worth approximately Rs 620 crore (67.96 million GBP) Sources say that Reliance owner Mukesh Ambani the richest man in Asia is preparing to take on Amazon and Walmart in the billion

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