RIL gains as its arm inks definite agreement for sale of entire 49.9% stake in EFS

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

02 Jun 2015 Evaluate

Reliance Industries is currently trading at Rs. 910.75, up by 9.40 points or 1.04% from its previous closing of Rs. 901.35 on the BSE.

The scrip opened at Rs. 904.15 and has touched a high and low of Rs. 918.50 and Rs. 891.15 respectively. So far 3,07,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1132.80 on 06-Jun-2014 and a 52 week low of Rs. 796.75 on 30-Mar-2015.

Last one week high and low of the scrip stood at Rs. 918.50 and Rs. 873.40 respectively. The current market cap of the company is Rs. 2,94,000.00 crore.

The promoters holding in the company stood at 45.24%, while Institutions and Non-Institutions held 31.38% and 20.15% respectively.

Reliance Industries (RIL) - subsidiary - Reliance Holding USA, Inc., has inked definitive agreements for the sale of its entire holding of 49.9% interest in EFS Midstream LLC (EFS) to an affiliate of Enterprise Products Partners L.P. (Enterprise) for a total consideration of approximately $1,073 million.

Under the terms of the definitive agreements, Enterprise will pay Reliance approximately $574 million in cash at closing and make the final payment of $499 million in cash on or before the first anniversary of the closing date. The proposed transaction is subject to regulatory approvals and other closing conditions that are customary for similar transactions.

EFS is jointly owned by an affiliate of Reliance and an affiliate of Pioneer Natural Resources Company (Pioneer), with their respective ownership interests being 49.9% and 50.1%. EFS provide gathering, treating and compression services and condensate stabilization operations in the Eagle Ford Shale for the Reliance-Pioneer Upstream Joint Development and to third parties.

Since inception in 2010, EFS has built significant midstream infrastructure, which now comprises 10 central gathering points, 460 miles of gathering pipelines, 119 Mboepd of condensate stabilization capacity and 780 MMcfd of natural gas treating capacity.

Reliance’s agreement to sell its interest in EFS is part of a joint transaction, wherein both Reliance and Pioneer have agreed to sell their entire respective holdings in EFS, for an aggregate consideration of $2,150 million. In addition to the aggregate acquisition consideration being paid to Reliance and Pioneer proportionate to their respective ownership interests in EFS, Enterprise has agreed to spend $270 million over the next ten years on new facilities, connections and expansion projects.

Reliance Industries Share Price

1435.70 0.00 (0.00%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	144.70
BPCL	302.85
HPCL	387.00
MRPL	167.90
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