{"id":363291,"date":"2020-07-17T11:17:24","date_gmt":"2020-07-17T05:47:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=363291"},"modified":"2020-07-17T11:51:40","modified_gmt":"2020-07-17T06:21:40","slug":"aramco-seeks-20-cut-in-reliances-o2c-business-valuation-deal-hits-roadblock","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/aramco-seeks-20-cut-in-reliances-o2c-business-valuation-deal-hits-roadblock\/","title":{"rendered":"Aramco seeks 20% cut in Reliance&#8217;s O2C business valuation; deal hits roadblock"},"content":{"rendered":"<p>New Delhi: Reliance Industries&#8217; planned sale of a fifth of its oil-to-chemical business to Aramco has stalled after the Saudi company sought at least 20 per cent cut in $75 billion valuation billionaire Mukesh Ambani&#8217;s firm was seeking. <\/p>\n<p>Sources privy to negotiations said Saudi Aramco had right from the beginning resisted the $15 billion price tag Reliance had put for the 20 per cent stake in O2C business, which comprises of the company&#8217;s twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture. <\/p>\n<p>And with crude oil prices plunging due to the pandemic, it sought a complete re-evaluation, putting a price tag of no more than $57-60 billion for the business ($11-12 billion for 20 per cent stake), they said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: Reliance Industries&#8217; planned sale of a fifth of its oil-to-chemical business to Aramco has stalled after the Saudi company sought at least 20 per cent cut in $75 billion valuation billionaire Mukesh Ambani&#8217;s firm was seeking. Sources privy to negotiations said Saudi Aramco had right from the beginning resisted the $15 billion price tag Reliance had put for the 20 per cent stake in O2C business, which comprises of the company&#8217;s twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture. And with crude oil prices plunging due to the pandemic, it [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-363291","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=363291"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363291\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=363291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=363291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=363291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}