01.03.2011 - RIL talking to Orix to buy IL&FS holding for $1.2 bln
From Indiatimes.com: The Reliance Industries group is negotiating with Japanís Orix Corporation to acquire its 23.87% stake in Infrastructure Leasing and Finance Company (IL&FS for around $1.2 billion. Apart from Orix and LIC , IL&FSí large shareholders include Abu Dhabi Investment Authority. If the deal materialises, it will make the Reliance group the second largest investor in IL&FS after Life Insurance Corporation of India (LIC) and will pave the way for its entry into the financial services business..............................................Full Article: Source
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