Aramco in advanced talks to buy 20% stake in Reliance refining unit for up to $25 bln: report

16/08/2021 Argaam

Logo of Saudi Aramco

Saudi Aramco is in advanced talks to acquire a 20% stake in India’s Reliance Industries Ltd.’s oil refining and chemicals business for about $20-25 billion worth of Aramco shares, Bloomberg reported, citing sources.

 

Reliance could reach an agreement with Aramco over the coming weeks, the sources added.

 

In June, Reliance Chairman Mukesh Ambani said that he expects the company to formalize its partnership and the oil-to-chemicals deal with Saudi Aramco this year, Argaam earlier reported.

 

For More M&As

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.