Announced
Financials
Tags
Acquisition
Chemicals: Diversified
India
Minority
petrochemical products
diversified chemicals
Private
Failed
Cross Border
Friendly
Single Bidder
Synopsis
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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