Reliance Industries Ltd said on Friday its plan to close the deal to sell a 20 per cent stake in its oil to chemicals business for $15 billion to Saudi Aramco will miss the March 31 timeline announced earlier.
The deal was announced in August 2019.
“It will not be a deal which will get done by March,” RIL’s joint chief financial officer V Srikanth told media on Friday.
“The deal is making very good progress, but it’s a large transaction/large cross-border deal which is complex. I cannot comment on the timeline,” he said.
“Definitive agreements are something we are trying to do,” he added.
