Reliance Industries Eyes Acquisition of North American Assets of LyondellBasell

SUGAR LAND--November 12, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Reliance Industries Limited (BSE:500325) (RIL) (Mumbai), India's largest private-sector petrochemical company, is likely to acquire the North American assets of beleaguered LyondellBasell Industries (Rotterdam, Netherlands). Industry experts have observed that RIL may have an edge in this acquisition, since other potential competitors, including Chevron Corporation (NYSE:CVX) (San Ramon, California), Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), and Total S.A. (NYSE:TOT) (Paris, France), are not in the fray. According to reports, other bidders include private-sector equity players and U.S.-based manufacturing companies. Sources have indicated that the deal may take up to five months to attain closure.

Other companies featured: Eni SpA (NYSE:E), Petroplus Holdings AG (VTX:PPHN)