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Reliance Petroleum set to merge with Reliance Industries

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Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd. (RPL) informed the Bombay Stock Exchange (BSE) separately that a meeting of the respective board of directors of the companies would be held on March 2, inter alia, to consider and recommend the amalgamation of RPL with RIL.

The deal is expected to enhance the position of RIL as an integrated global energy major.

Markets ascribe higher valuation for integrated energy companies vis-a-vis standalone refiners due to better competitive position and reduced earnings volatility.

This merger of RPL is expected to transform RIL to be among world’s 50 most profitable companies; top ten non-state owned refining company globally; top 15 independent upstream companies; and five largest producers of poly propylene in the world.

While RIL will have enhanced weightages in domestic indices, it will also gain significantly from higher financial strength and flexibility.

The merger is likely to be earnings accretive for RIL from the first year itself

Further, it will have operational synergies from combined business in areas such as crude sourcing, product placement, process optimization and logistics, besides consolidation of a world-class operating refinery asset.

The combined capacity of the two companies expected to be 1.24 million barrels of oil a day. At present RIL produces 6.60 lakh barrels and RPL produces 5.80 lakh barrels a day.

February 28, 2009 · Filed Under Reliance Industries, Reliance Petroleum 
Visited 1683 times, 1 so far today
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    3 Responses to “Reliance Petroleum set to merge with Reliance Industries”

    1. rush on February 28th, 2009 11:00 pm

      good

    2. kuwar on March 1st, 2009 2:56 pm

      This is very gooe and informative information about reliance. Be continue for investore sake
      Money Drives Life

    3. ankit shah on March 3rd, 2009 12:04 pm

      everything is gud??abt merger of ril nd rpl?/bt the thing is dat reliance petrolieum sector dats is petrol pump are closed all most from 1 or 2 yrs??so will be possible dat it will open up shortly or the delear have to close down the business of petrolieum of reliace??

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