Saudi Aramco-RIL deal at risk as oil prices fall
NEW DELHI: The collapse in oil prices has raised the risk that Saudi Aramco’s plan to buy $15-billion stake in Reliance IndustriesNSE 4.96 %’ (RIL) hydrocarbon business may not go through, US-based brokerage Bernstein has warned.
Saudi Aramco, the world’s largest exporter of crude oil, had agreed to a non-binding initial agreement last August to buy 20% stake in Reliance Industries’ oil to chemicals divisions with an enterprise value of $75 billion. The oil to chemicals division included RIL’s world’s largest refining complex, petrochemicals and fuels marketing businesses.
