#Reliance Industries

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh Ambani resigns, son Akash Ambani succeeds as chairman

Mukesh will continue to be the chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands

Reliance pulls plan to sell oil-to-chemicals stake to Aramco

Reliance and Aramco had signed a non-binding letter of intent in August 2019 for a potential 20 per cent stake in Reliance’s oil-to-chemicals unit

Aramco is in advanced talks on up to $25bn Reliance deal

A transaction would boost Aramco’s sales of crude to India

Saudi Aramco

Saudi Aramco reports $25.5bn net income in Q2 2021

Aramco’s gearing fell to 19.4 per cent from 23 per cent at the end of 2020

Aramco still aims for $15bn investment in India’s Reliance

A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers

​Abu Dhabi Investment Authority acquires stake in Peruvian power company

Abu Dhabi to invest $752m in Reliance Industries’ digital arm

The deal comes days after the emirate’s Mubadala Investment spent $1.2bn on a 1.85 per cent stake in Jio

Mubadala

Ambani’s Jio platforms sells $1.2bn stake to Mubadala

Facebook invested $5.7bn in Jio in April for a roughly 10 per cent stake

India’s Reliance, Saudi Aramco accelerate refinery stake sale talks

In August, Reliance valued its oil-to-chemicals division at $75bn including debt, implying a $15bn valuation for a 20 per cent stake