Indian billionaire, Mukesh Ambani’s Reliance Industries Ltd., along with Assets Care & Reconstruction Enterprise Ltd. to bid for a bankrupt Indian textile firm Sintex Industries Ltd. According to reports, Sintex provides fabric to global fashion brands like Armani, Hugo Boss, Diesel and Burberry. In an attempt to diversify from an oil empire and into telecommunications, green energy and fashion, Reliance has recently acquired marquee Bollywood brands and assets abroad in recent years.
Asia’s richest man looking to buy bankrupt textile firm in India
Dec 13, 2021 | Commonwealth News