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Reliance Industries to spin off Oil-to-Chemicals business into separate arm with USD 25 bn loan


03:00 pm
PTI
New Delhi, Feb 23 (PTI) Billionaire Mukesh Ambani s Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
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The reorganisation will enable the focused pursuit of opportunities across the O2C value chain, improve efficiencies through self-sustaining capital structure and a dedicated management team, and attract dedicated pools of investor capital, according to a company presentation filed with the stock exchanges. ....

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