The much awaited RIL AGM scheduled on June 24 has a lot on the agenda for shareholders including potentially an Aramco representation on the RIL board.
Reports state that Saudi Aramco Chairman Yasir Al-Rumayyan may be joining the board of Reliance Industries (RIL). Yasir Al-Rumayyan is also the Governor of of the Kingdom’s wealth fund — Public Investment Fund (PIF) that has already picked up minority stake in Reliance Retail and Jio.
Mukesh Ambani in 2019 has announced talks for the sale of 20% stake in the oil-to-chemical business to the world’s largest oil exporter Aramco. The deal which has been delayed for undisclosed reasons was announced in the 2019 AGM. At the point the O2C biz was valued at $75 billion.