RIL submits interest in Canadian firm; Value Creation

Energy major Reliance Industries Ltd (RIL) has submitted a USD 2 billion expression of interest for private Canadian firm Value Creation Inc, CNBC-TV18 reported on Friday quoting sources.

The promoters of the Canadian firm, which holds oil sands assets, are looking to raise funds to settle with lenders.

An RIL spokesperson said he had no immediate comment.

RIL, India’s largest listed company with interests in petrochemicals, refining, oil and gas exploration, and retail, is already looking to buy bankrupt petrochemicals maker LyondellBasell for around USD 13.5 billion

Source:http://www.moneycontrol.com/news/business/ril-submits-interestcanadian-firm-sources_440236.html

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