Reliance buys 21% in US-based WHI

WHI is a US helium gas exploration and production company engaged in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.

Reliance Finance and Investments USA LLC (RFIUL), a step-down wholly owned subsidiary of the company, on Wednesday entered into a stock purchase agreement with Wavetech Helium, Inc. (WHI) and subscribed to a 21 per cent stake of WHI for an aggregate consideration of USD 12 million.