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















