Reliance Industries merges with RPL

Reliance Industries chairman Mukesh Ambani agrees to combine Reliance Petroleum (RPL). Both the companies, planned to give one Equity share for the RPL shareholders and 16 for Reliance industries share (16-1). It has resulted to become the leading refineries in the world.This merger will take effect on April 2009, also plans to become one of the top 50 companies based on profitability.

RIL announced earlier to get five percent from Chevron Energy shares after decided to cease the RPL, RIL bought 22.5 crore shares, which include the 5% share of RPL from Chevron.This will raise up the company shares percent.