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24-Dec2018

RIL acquires 5.56% stake in Vakt Holdings

Reliance Industries (RIL) has acquired 5.56% equity stake in Vakt Holdings, UK (VHL), a closely held start up entity engaged in the technology space, for cash aggregating to $5 million.

VHL is a consortium of leading global energy majors, commodity traders and banks with a vision to digitize the global commodities trading industry, creating a secure, trusted ecosystem, powered by block chain. The strategic investment accelerates Reliance's digital journey, through active participation in an emerging and evolving, yet promising, block chain enabled technology solution for energy markets.

Reliance Industries is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.


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