RIL-Saudi Aramco deal underway: reports

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RIL-Saudi Aramco deal underway: reports

Mar 18, 2020 08:32 IST

Shares of Reliance Industries gained over 4% on Tuesday on reports that the company’s talks with Saudi Aramco for sale of a minority stake are continuing. In an effort to become a net debt-zero company, Reliance Industries had entered into a memorandum of understanding with Saudi Aramco to sell a stake in its oil-to-chemical business. The deal was in doubt due to coronavirus pandemic and steep fall in crude oil prices.

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