Saudi Aramco buys a 20% stake in the energy unit of India’s Reliance as it tries to diversify outside Saudi Arabia before its planned IPO
Saudi Aramco is buying a 20% stake—worth some $15 billion including debt—in India’s Reliance Industries’ oil and chemicals business, a move that would help match its enormous crude production with refining capacity, as it gears back up for a planned initial public offering.
The move would represent one of Aramco’s biggest forays overseas, and comes as it is trying to win over potential global investors for a possible listing that is now back on the front burner among Aramco executives and Saudi government officials.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
KKR to take majority stake in NVC Lighting's China businessKKR & Co Inc said on Sunday it would take a majority stake in NVC Lighting Holdi...
Read more »
Conference Call: The Ins and Outs of Business Loans to Grow Your StartupJoin us on August 20th for a conference call on using business loans as a source of capital to grow your startup.
Read more »
BlackRock poised to become Authentic Brands' largest shareholder: WSJBlackRock Inc is taking a stake in Authentic Brands Group LLC in a deal valuing ...
Read more »
Saudi Aramco's first-half net income falls 12% to $47 billionSaudi Aramco, the world's top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.
Read more »
China new-energy vehicle sales drop for first time in over two yearsSales of new energy vehicles (NEVs) in China fell 4.7% in July from a year earli...
Read more »
Iraq says Eni, BP deal doesn't mean Exxon excluded from southern mega-projectIraq's oil ministry said on Saturday it was still in talks with U.S. energy...
Read more »