Reliance Industries has bought out iconic British toy chain Hamleys, after several years of subsidiary Reliance Retail under licence having expanded the brand in India to the 88 stores (out of 167 globally, in 18 countries), reported NDTV.

Khaitan & Co acted for Reliance Industries., led by partner Rahul Dutt, partner Akshay Bhargav, principal associate Vinita Choudhury, senior associate Shreya Dua and associate Krishna Shah with assistance from the following: partner Moin Ladha on regulatory aspects; partner Anisha Chand and associate Anmol Awasthi on competition law aspects; partner Ritu Shaktawat on direct tax aspects; partner Dinesh Agarwal and principal associate Mayank Jain on indirect tax aspects; and partner Adheesh Nargolkar and partner Shailendra Bhandare on intellectual property law aspects.

UK firm Slaughter and May provided international law advice to Reliance Industries.

US firm Sullivan Cromwell advised the sellers, C Banner International Holdings (which had bought Hamleys for $130m in 2015).

To be updated.