Reliance Ind rises over 1 pct after Lyondell offer

MUMBAI Nov 23 (Reuters) - Shares in energy major Reliance Industries (RELI.BO) rose more than 1 percent early on Monday after the company said over the weekend it made a cash offer to buy a controlling interest in bankrupt petrochemicals company LyondellBasell Industries [ACCEIN.UL] [ID:nN21473364]

Reliance, India's largest conglomerate with interests in petrochemicals, refining, oil and gas exploration, and retail, is offering about $12 billion for LyondellBasell to create one of the largest petrochemical firms in the world, two sources with direct knowledge of the deal told Reuters. [ID:nBOM114694]

Reliance, which has about 14 percent weightage in the main Mumbai index .BSESN, was up 1.1 percent at 2,148.70 rupees by 9:56 a.m. (0426 GMT). The main index gained 0.4 percent. (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan) ((pratish.narayanan@thomsonreuters.com; +91 22 6636 9202; Reuters Messaging: pratish.narayanan.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))