Ambani peace deal on July 6

Valuation of Reliance Info & equal split of gas fields will be sorted out.

The Ambani brothers are believed to have finally zeroed in on the date to for announcing the peace formula.

Sources close to the development said here today that the settlement would be announced on July 6, the third death anniversary of the group's founder chairman, Dhirubhai Ambani.

Although the Ambani camps declined to comment on this, the sources said the issues "" namely valuation of Reliance Infocomm and equal split of gas fields, which were holding up the settlement, were close to being sorted out.

Going by the settlement formula, drawn up by ICICI CEO and Managing Director K V Kamath some time ago, Reliance Infocomm and Reliance Energy will go to Anil Ambani, while Chairman and Managing Director Mukesh Ambani will get Reliance Industries, IPCL and Reliance Life Sciences.

Kamath is also believed to have suggested a partition of the Ambani family's holdings in Reliance Industries in a 30:30:40 ratio.

While Mukesh and Anil will have 30 per cent each, their mother Kokilaben will retain 40 per cent of the family holdings. Kokilaben may split 10 per cent of her share between her two daughters, Dipti Salgoacar and Nina Kothari.