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RIL, RPL boards approve merger to create World’s 10th largest private refiner

03 Mar 2009 Evaluate

The Board of Directors of Reliance Industries and Reliance Petroleum have approved the merger of the latter with the former, on 2nd March 2009.  India’s largest ever merger will create World’s 10th largest private sector refining company and will elevate RIL as the World’s largest producer of Ultra clean fuels at a single location.

The merger ratio has been decided at 1 share of Reliance Industries for every 16 shares held in Reliance Petroleum.  The merger will be effective from 1st April 2008, subject to approval of shareholders, courts etc. crackcrack

Peers
Company Name CMP
Reliance Industries 1226.00
Indian Oil Corpn. 135.80
Bharat PetroleumCorp 307.55
HPCL 351.50
MRPL 164.85
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