Reliance Industries, India's biggest listed company, plans to offer $10bn for a controlling stake in LyondellBasell, the bankrupt Dutch-based US petrochemical giant, in what would be one of the largest offshore acquisitions by an Indian group.
The Indian conglomerate controlled by Mukesh Am-bani, India's richest man according to Forbes, said at the weekend it had submitted a preliminary non-binding cash offer and was reviewing a number of global opportunities for growth in its core business.
