Saudi Aramco: Acquisition of stake in O2C division of Reliance Industries Limited
Saudi Aramco and Reliance Industries Limited (RIL) have signed a non-binding Letter of Intent (LOI) regarding a proposed investment in the Oil to Chemicals (O2C) division comprising the refining, petrochemicals and fuels marketing businesses of RIL. Saudi Aramco’s potential 20 % stake is based upon an enterprise value of USD 75 billion for the O2C division. According to RIL, this would be one […]