The Reliance Industries Limited (RIL) has acquired _________ percent of stake in the Chinese-owned REC Group, through its subsidiary Reliance New Energy Solar Ltd (RNESL)?

October 11, 2021

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A) 80%
B) 60%
C) 70%
D) 100%

Explanation: Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has acquired 100 percent shareholding of REC Solar Holdings AS (REC Group), a Chinese state-owned solar power company. RNESL has acquired the REC Group from China National Bluestar (Group) Co Ltd., for an Enterprise Value of $771 million.

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