InvestorQ : When is Saudi Aramco likely to invest in Reliance Industries oil and gas business?
Katherine Gonsalves made post

When is Saudi Aramco likely to invest in Reliance Industries oil and gas business?

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rhea Babu answered.
2 months ago
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The first step has been taken by voting in favour of appointing Saudi Aramco Chairman Yasir Al-Rumayyan as an independent director on the board of Reliance Industries. This had been pending till both Reliance and Al-Rumayyan had met all regulatory criteria for the appointment. That has been done now with over 98% favourable voting.

This is the first step to sell 20% in Reliance O2C Ltd to Saudi Aramco for $15 billion. The deal has been in the works for over 2 years now and is likely to fructify finally this year.

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