Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries’ oil refining and chemicals business, people with knowledge of the matter say.
The Saudi Arabian firm is discussing the purchase of a roughly 20 per cent stake in the Reliance unit for about $US20 billion ($27 billion) to $US25 billion-worth of Aramco shares, the people said, asking not to be identified because the information is private.
