Reliance, Aramco to re-evaluate stake sale in oil-to-chemicals arm | Reuters
India's Reliance Industries Ltd (RELI.NS) said it has decided with Saudi Aramco (2222.SE) to re-evaluate the oil major's proposed investment in Reliance's oil-to-chemicals business.
The companies had signed a non-binding letter of intent in August 2019, which would have seen Reliance sell 20% of the unit to Saudi Aramco to fetch roughly $15 billion.
Reliance also said it would withdraw its application to separate the oil-to-chemicals business.
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