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Aramco in talks for 25% of Reliance's refining, petrochemical units: Report

A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company's refining and petrochemicals businesses at around $55 billion to 60 billion, the report said

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Saudi Aramco  |  Reliance  |  Mukesh Ambani

Reuters 

Saudi Aramco, the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses, the Times of India reported on Wednesday. A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company's refining and petrochemicals businesses at around $55 billion to 60 billion, the report said. The agreement on valuation could be reached around June, the Indian newspaper reported, citing people with knowledge of the development. Goldman Sachs ...

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First Published: Wed, April 17 2019. 07:42 IST
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