 "Saudi Aramco")
1) Saudi Aramco to acquire 20% stake in RIL's oil-to-chemical business
Saudi Aramco and Reliance Industries (RIL) have signed a letter of intent for a proposed investment in RIL’s oil-to-chemical division, the company announced at its annual general meeting (AGM) on Monday. The deal is likely to fetch $15 billion (Rs 1.06 trillion) for a 20 per cent stake.
RIL is also looking to turn debt free in the next 18 months. As part of the debt-reduction plan, RIL looks to find global partners for its retail and telecom businesses. The company also plans to unlock value in real estate
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