SAUDIS INVESTMENT FOR INDIA $100 BLN
PLATTS - Saudi Aramco will acquire a 20% stake in Reliance Industries' oil-to-chemical business, expanding Saudi Arabia's burgeoning footprint in India's fast-growing refining sector.
The deal, announced by Reliance Chairman Mukesh Ambani at an investors meeting Monday, will see the Saudi state-owned oil giant pay an implied $15 billion for the 20% stake of the oil-to-chemicals division, which Reliance values at $75 billion.
The transaction, which is subject to due diligence,…
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