Reliance Industries Ltd eyes world's No 3 chemical giant

摘要

The country's largest corporate, Reliance Industries has made an offer to acquire a controlling stake in the world's third largest chemical company, LyondellBasell, which filed for bankruptcy in the US this January.rnWhile RIL did not disclose the bid amount, a senior merchant banker said the minimum it would have to pay would be $12 billion, which is the gap between the assets and the liabilities of LyondellBasell.rnThe acquisition of LyondellBasell will take RIL into Fortune 50 companies from its present ranking of 264th. In a statement, RIL said the company was reviewing a number of global opportunities for growth in its core business.