MUMBAI Nov 23 India's Reliance Industries
(RELI.BO) has made a cash offer to buy bankrupt U.S.
basedpetrochemicals firm LyondellBasell Industries [ACCEIN.UL].
Sources have told Reuters India's biggest conglomerate is
offering about $12 billion to acquire a controlling stake in
The deal could create one of the largest petrochemical
firms in the world, and would be India's second-biggest foreign
takeover. In 2007, Tata Steel (TISC.BO) bought Corus for $13
Here are some facts about Reliance Industries:
* Reliance Industries (RELI.BO) is India's largest listed
firm with a market value of about $75 billion. It has interests
spanning refining, petrochemicals, oil and gas exploration,
textiles and retail. It made a profit of 152.96 billion rupees
($3.3 billion) in the 2008/09 financial year (April/March) on
sales of 1.5 trillion rupees.
* It is controlled by Mukesh Ambani, whom Forbes magazine
recently ranked as India's richest man with a net worth of $32
* Last December, Reliance commissioned a 580,000 barrels
per day (bpd) refinery next to its existing 660,00 bpd plant at
Jamnagar in the western Indian state of Gujarat. Together, the
plants make up the world's largest oil refining complex.
* The company also plans to set up a petrochemical complex
at Jamnagar that would nearly double its current capacity to 4
million tonnes a year.
* In April, Reliance Industries started pumping gas from
its find in the Krishna Godavari basin off the country's east
coast. The find, India's largest, is expected to almost double
the energy-hungry nation's output when production peaks to 80
* The Reliance empire was split in 2005 between Mukesh and
estranged younger brother Anil under a deal struck by their
mother following the death of their father, who founded the
* The brothers are embroiled in a legal battle over a deal
by Reliance Industries to supply gas to Anil's Reliance Natural
Resources RENR.BO that was part of the 2005 settlement.
($1=46.5 Indian Rupees)
(Reporting by Pratish Narayanan; Editing by John Mair)
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