Saudi Aramco's talks to buy minority stake in RIL's refining assets stall

Saudi Aramco's talks to buy minority stake in RIL's refining assets stall

23 July 2019

Bloomberg

• Aramco is concerned about Reliance’s proposal to shift some debt of the wider group to its refinery business ahead of the transaction

• Reliance’s debt increased 20% over the past year as it spent $36 billion to disrupt India’s wireless market with cheap data and free calls

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd.’s talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the... 

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