NEW DELHI: Richest Indian Mukesh Ambani-led Reliance Industries’ talks to sell a minority stake in its refinery business to Saudi oil giant Aramco have hit a roadblock over valuation and deal structure, sources said. Talks on Saudi Aramco picking up to 25% stake in a proposed special purpose vehicle (SPV) housing the twin refineries of RIL as well as the firm’s petrochemical complex have been stalled over valuation, they said.
Also, the Saudi firm has disagreed with RIL over the transfer of some of the ?2,88,243-crore group debt to the SPV.
