Reliance & Saudi Aramco deal gains momentum, talks resume after COVID-19 pause

Описание: The mega-deal between Reliance and Saudi Aramco is gaining momentum. The deal was announced by Mukesh Ambani in last to last Annual General Meeting, however, the talks took a brief pause and were postponed due to the COVID-19 pandemic. As the unlock period began, the deal between Reliance and Aramco has also resumed.

Reliance and Aramco are committed to mega oil to chemical deal. The data room had opened but the deal was stalled due to COVID-19. The deal is expected to be at a similar valuation, which can be adjusted for debts. Aramco deal will be for a stake in Reliance’s oil to chemical biz and may also help the company to improve crude’s conversion rate.

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