#Reliance #Talks #Saudi #Aramco #Final #Stage
Negotiations continue on $25 billion deal between Reliance and the world’s largest oil company Saudi Aramco
New Delhi. Indian companies are ready to dominate the world stage. India’s richest man Mukesh Ambani’s Reliance Industries Limited and the world’s largest oil company Saudi Aramco may soon have a deal. At the same time, India’s largest startup Byju’s is poised to become a $ 21 billion company. Negotiations on a $25 billion deal between Saudi Aramco and Reliance are in the final stage.
Strong jump in Reliance shares
After this news, there was a strong jump in the stock of Reliance on Monday. After opening at the level of 2149.35, the stock of RIL closed at 2169, up 1.09 percent. On the other hand, Byju’s will raise $1 to 1.5 billion from investors.
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Aramco will take 20 percent stake
Aramco is in talks for a 20 per cent stake in Reliance’s oil arm. The deal will give RIL an uninterrupted supply of crude oil for its refinery, as well as a one per cent stake in Aramco.
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Ambani announced in 2019
In August 2019, Mukesh Ambani had announced talks to sell a 20 per cent stake in the oil and chemicals business to Aramco. The deal was to be completed by March 2020, but got delayed. The reason for this was not given.