Reliance Industries (RIL) is close to announcing a major global acquisition, reported the Economic Times on Monday. RIL is reportedly targeting to buy a part of the assets owned by U.S. petrochemical company LyondellBasell, which is under Chapter 11 protection. If things move as per plan, RIL is likely to announce the deal before its annual general meeting scheduled for November 17.
A banker reportedly said the deal is likely to have a value of $6 billion and might include both US and European assets of LyondellBasell. Media reports had earlier reported a deal worth around $3.35 billion for the company's US assets.
Quoting an RIL external spokesperson, the report added that the company was evaluating global opportunities in its core business.
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