NEW DELHI: The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday.
It said in a statement that the reorganisation of the business in Reliance O2C Limited (O2C) “will have a neutral impact on RIL’s credit metrics and rating”. The transfer will be on a “slump sale basis”, subject to attaining the requisite approvals.
