CURRENT AFFAIRS

Detailed explanation-1: -Reliance Brands has completed acquisition of 100% stake of Hamleys Global Holdings (HGHL) through a special purpose vehicle company set up in United Kingdom for cash consideration of GBP 67.96 million, Reliance Industries said in a BSE filing on Thursday.

Detailed explanation-2: -Reliance Retail also has the iconic British toy retail brand Hamleys in its fold. Hamleys is the world’s oldest toy retailer and was acquired by Reliance in 2019, marking the first acquisition of a global retail brand by the company.

Detailed explanation-3: -In 2019, Reliance Brands Limited acquired Hamleys marking the first acquisition of a global retail brand.

Detailed explanation-4: -The acquisition by Reliance Industries, owned by billionaire Mukesh Ambani, marks the conglomerate’s first foray in an overseas retail brand. Founded in 1760, Hamleys resonates with adults and children alike, with its flagship Regent Street store in central London recognized around the world.

Detailed explanation-5: -Shutterstock.com Hamleys is one of the world’s oldest retailers of toys and has changed hands several times. NEW DELHI: Reliance Brands, a subsidiary of Reliance Industries, has completed acquisition of British toy retailer Hamleys for GBP 67.96 million (about Rs 620 crore) in an all-cash deal.