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Reliance Industries Ltd.
BSE: 500325 | NSE: RELIANCE
Large Cap | Refineries
1390.15
44.15 (3.28%) REM LLC ceases to be subsidiary of Reliance Industries
Date: 24-01-2018Reliance Eagleford Midstream LLC (REM LLC) has ceased to be a subsidiary of Reliance Industries on account of amalgamation of REM LLC with its holding company viz. Reliance Holding USA, which in turn is a wholly owned subsidiary of the company.
REM LLC had in June 2015 divested its entire stake (49.9%) held in EFS Midstream LLC.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.