Reliance Industries hits two birds with one stone through Saudi Aramco deal2 min read 12 Aug 2019, 01:43 PM IST
Saudi Aramco will acquire a 20% stake in RIL's refining and petrochemicals business for an enterprise value of $75 billion
RIL also said that it intends to become a debt-free company by 2021
Is Reliance Industries Ltd (RIL) engaging in some serious deleveraging or is it tactfully defocusing from its traditional oil and gas businesses? While it’s difficult to read the mind of the company run by India’s richest man, it does look like RIL is achieving both objectives through its deal with Saudi Arabian Oil Co. (Saudi Aramco).
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