FILE PHOTO: Mukesh Ambani, chairman of Reliance Industries Limited, poses for photographers before addressing the annual shareholders meeting in Mumbai, India, June 12, 2015.
REUTERS/Shailesh AndradeBENGALURU (Reuters) - Reliance Industries Ltd RELI.NS and Saudi Aramco 2222.SE are resuming talks over a 20% stake sale by the Indian conglomerate in its oil-to-chemical business after a brief pause due to COVID-19 pandemic, ET Now reported on Monday, citing sources.
Both the companies were committed to the deal and Aramco wants to do physical inspection of Reliance’s assets in India, the report said.
The deal, estimated to be about $15 billion as of August last year, had stalled over price, Reuters reported earlier this year.
“India offers tremendous growth opportunities over the long term and Aramco continues to evaluate new business opportunities with our potential partners,” Saudi Aramco said in an e-mailed statement.
Mukesh Ambani, Shailesh Andrade
Reliance Industries, REUTERS, Shailesh Andrade BENGALURU, Reliance Industries Ltd, Aramco, Reuters, India, Reliance
Mumbai, India, Saudi Aramco