India’s energy giant Reliance Industries (RIL) will take a call on submitting a final bid for bankrupt Dutch petrochemical company LyondellBasell (LB) today, sources close to the development told CNBC-TV18’s Nayantara Rai.
Sources say the company is now concerned about LB’s high debt — pegged at about USD 27 billion — with the company’s lenders having the right to hike interest rates to 12% and many having done so.
It is learnt that after RIL carried out due diligence — it had earlier submitted a preliminary bid for the company prior to due diligence — new emerging facts about LB’s state could be a cause of worry.
RIL to decide on Lyondell bid today: Sources
