Reliance to sell stakes in 6 firms operating ethane ships to Mitsui

New Delhi: Reliance Industries will sell stakes in firms that own its fleet of very large ethane carrying ships to Japan's Mitsui OSK Lines (MOL) for an undisclosed sum of money.

In a statement, RIL said its Singapore-incorporated subsidiary Reliance Ethane Holding Pte Ltd (REHPL) has signed "binding definitive agreements for a strategic investment by MOL" and an unnamed strategic minority investor in six limited liability companies.

REHPL owns these six limited liability companies which are special purpose vehicles that own the Very Large Ethane Carriers (VLECs).