Aramco Moves Closer To Closing $25B Reliance Megadeal ...Middle East

Saudi Aramco is in an advanced stage of negotiations to buy in an all-stock deal, valued at up to $25 billion, some 20 percent of the oil refining and chemicals business of India’s conglomerate Reliance Industries, Bloomberg reported on Monday, quoting sources familiar with the matter.  The Saudi state-held oil giant would pay with Aramco shares for the 20-percent stake in the refining and chemicals arm of the oil-to-telecoms conglomerate Reliance Industries of India’s richest man, Mukesh Ambani. An agreement could be reached as…

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