09 November 2009 07:26 [Source: ICIS news]
SINGAPORE (ICIS news)--Reliance Industries is close to announcing a major overseas acquisition, likely to be LyondellBasell, before the Indian major’s annual general meeting on 17 November, a report in India’s Economic Times said on Monday.
Bankers and analysts said the deal could be worth in the region of $6bn, the Indian national newspaper added.
Neither Reliance nor LyondellBasell were immediately available for comment on a further development in the rumours, which first emerged last month.
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Reliance has been connected with many other major overseas acquisitions in the past, but it has yet to buy a major business outside
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