Saudi Aramco, the world's largest crude oil producer, is in 'serious d...
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed//File Photo
- 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 reportThe agreement on valuation could be reached around June, the Indian newspaper reported, citing people with knowledge of the development. Goldman Sachs is said to have been mandated to advise on the proposed deal, the report added.
Aramco’s interest in the operator of the world’s biggest refining complex comes after Saudi Arabia’s Crown Prince Mohammed bin Salman’s visit to Delhi in February when he said he expected investment opportunities worth more than $100 billion in India over the next two years. Separately, Saudi Aramco’s Chief Executive Officer Amin Nasser had met Reliance Chairman Mukesh Ambani to discuss the Saudi state-owned company’s businesses including crude, chemicals and non-metallics.Reporting by Supriya Roy in Bengaluru; Editing by James Emmanuel
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
25 Photos That Show The Good Old Days For Anyone Between The Ages Of 25-40Remember when Facebook wasn't about being bombarded with your friends or families political views?
Weiterlesen »
Saudi Aramco increases gasoline prices starting April 14: statementSaudi Arabia raised the local price for Octane 95 gasoline to 2.10 Riyals from 2...
Weiterlesen »
Aramco frenzy is wrong measure of Saudi renewalFrantic demand for the oil giant’s $12 bln bond issue might be interpreted as a sign of support for the desert kingdom’s efforts to diversify its economy. Yet securing long-term investment is harder than selling securities. And only some of the buying reflects genuine enthusiasm.
Weiterlesen »
Overpriced Aramco debt still has a Saudi discountStrong demand for the oil giant’s first bond allowed it to raise $12 billion at lower rates than expected. Borrowing costs are still higher than Western oil peers. But it makes little sense for investors to view the bonds as less risky than Saudi’s tarnished government.
Weiterlesen »
Aramco sells $12 billion bonds out of record $100 billion demandSaudi Aramco is set to raise $12 billion with its first international bond issue...
Weiterlesen »
Aramco buys $1.2 billion stake in South Korean refiner Hyundai OilbankState-owned Saudi Aramco has agreed to buy a 1.4 trillion won ($1.24 billion) st...
Weiterlesen »
Measles surges to second-highest level in US in 25 years and over 100,000 global casesThe number of measles cases in the United States made its biggest jump of the year, with 90 new cases reported in just one week, according to numbers released Monday by the US Centers for Disease Control and Prevention.
Weiterlesen »
The 25 richest people in New York, rankedFrom real estate mogul Leonard Stern to former New York City mayor Michael Bloomberg, here's a look at the 25 richest people in New York today, according to Forbes real-time billionaire data.
Weiterlesen »
25 Pre-Cellphone Struggles Kids Today Can Never BEGIN To Understand25 Pre-Cellphone Struggles People Born After 1998 Can Never BEGIN To Understand
Weiterlesen »