08/30/2010 02:06 pm ET Updated May 25, 2011

Mukesh Ambani, India's Richest Man, Invests In Oberoi Hotel Chain

MUMBAI (AFP) -- A unit of India's largest private firm Reliance Industries has bought a 14 percent stake in one of the country's most luxurious hotel chains in a 217-million-dollar deal, the companies said on Monday.

The giant conglomerate, headed by India's richest man Mukesh Ambani, said its unit Reliance Industries Investment and Holding had acquired a 14.12 percent stake in East India Hotels, which owns the Oberoi and Trident brands.

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