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

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.