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New Deal


Announced

Saudi Aramco terminates the $15bn acquisition of a 20% stake in O2C arm of Reliance Industries.

Financials

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Transaction Value£12,463m
Consideration TypeCash
Capital Owned-
Capital Bid For20%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Chemicals: Diversified

India

Minority

petrochemical products

diversified chemicals

Private

Failed

Cross Border

Friendly

Single Bidder

Synopsis

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Saudi Aramco, a Saudi Arabian national petroleum and natural gas company, terminated the $15bn acquisition of a 20% stake in Oil to Chemicals arm of Reliance Industries. Reliance industries planned to sell 20% of its Chemicals arm to cut debt. But while the due diligence was on, Reliance became net-debt free by selling stakes at its digital units.

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