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Reliance Makes Cash Offer for Bankrupt LyondellBasell

Reliance Industries Ltd., owner of the world’s largest oil-refining complex, made a cash offer to buy a controlling stake in closely held LyondellBasell Industries AF, the bankrupt chemicals and fuels maker.

 

Terms weren’t disclosed. The buyout would be coordinated with emergence from bankruptcy and represents a “potential alternative” to its reorganization plan, Rotterdam-based LyondellBasell said in a statement.

 

Source: Bloomberg

 

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15 WNT CVR 160x214Inside the Winter 2015 issue…

• Your Control Systems Are at Risk!
• Building a Better Workforce
• Focus on the Offshore Market
• Forgings: Quality with a Cost

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