Reliance Marcellus LLC a wholly-owned subsidiary of Reliance Industries Ltd

provides oil and gas services. The Company refines and markets various petroleum
and chemical products and caters to the customers in the United States. This is a
greenfiled investment strategy undertaken by reliance as it created its subsidiary
in another country and built its operations in from the ground up. However, RIL
plans to divest a few of this subsidiarie's assets to Northern Oil and Gas Inc
(NOG). This is due to the falling demand for crude oil in the US, it will adversely
impact investments made by Indian companies and also for RIL as it was providing
negative returns on equity.(greenfield - investment is a type of foreign direct
investment (FDI) in which a parent company creates a subsidiary in a different
country, building its operations from the ground up.) (market seeking)

Reliance Industries is weighing a bid for Deutsche Telekom AG’s Netherlands

subsidiary. The Indian conglomerate is working with an adviser to evaluate an offer
for T-Mobile Netherlands BV. A deal for T-Mobile Netherlands would represent a rare
purchase in Europe marking its entry into the European markets. This comes as Mr.
Ambani tries to transform Reliance from an old-economy conglomerate into a
technology and e-commerce titan. (Resource seeking)(market seeking)

Reliance Industries (RIL) has increased its stake in Delaware, US-incorporated

technology company skyTran to 54.5% from 26.3%. skyTran develops mobility
solutions, including pod taxi technology. Pod taxi is a driverless transit system
that runs on magnetic levitation. RIL said that the investment was made in skytran
to foster a partnership in India. They were excited by skyTran's ability to provide
a highly efficient and economical 'Transportation as a service platform' for India
and the rest of the world. (innovation seeking)

next slide

I will now be talking about a few major divestments that RIL had. All the
divestments I'll be mentioning were a spin-off. With a spin-off, a company
separates the part of the company to be sold (the subsidiary) and makes it its own
unit - a completely new company; therefore, investors are given shares of the new
company. Spin-offs tend to generate value for the shareholders, though they do not
generate cash.

Reliance Industries Ltd (RIL) has decided to sell 20% stake in its oil business to
Saudi Aramco, the world’s largest oil company, producing one in every eight barrels
of crude oil globally. and money received by RIL will be used partly to pare the
company’s debt. The deal outlines RIL’s strategy that it wants to move into the
technology sector as a part of the company’s efforts to expand its consumer-facing
businesses. Once the deal shapes up, Saudi Aramco will supply 5,00,000 barrels of
crude per day to RIL’s twin refineries at Jamnagar in Gujarat on a long-term
basis.This partnership will be a good synergy between the world’s largest oil
producer and the world’s largest integrated refinery and petrochemicals complex.
(spin-off)

In May 2020, RIL has so far announced the divestment of an 18.01% stake in Jio
Platforms for Rs 785.6 billion ($10.5 billion).Proceeds from these divestments
alone will help the company pare around 49% of its net debt of Rs 1.6 trillion
($21.4 billion) outstanding as of 31 March 2020. The oil-to-logistics conglomerate
said that it would sell a 2.32% stake in Jio Platforms to an investment firm KKR &
Company Inc(Spin-off)

In September 2020, Reliance Industries Ltd's (RIL's) decided to divest 8.48 per
cent stake in its retail arm. Then again in October 2020, it decided to divest a
total stake of 10-15 per cent in its retail holding company to an American private
equity investor- Silver Lake Partners, the proceeds of which will be used to fund
acquisitions such as the retail and wholesale business of Future Group and others.
The deal is the company's first divestment within the retail segment.With this
deal, RIL has now established an enterprise value for its retail segment which sets
the stage for further stake sales within the segment. It will enable the Indian
conglomerate to continue pursuing other growth opportunities while maintaining zero
net debt. The proposed divestment will help to further the company's ambitions
within the retail segment without straining its balance sheet. The company is
already the industry leader within the organised retail sector in India but the
contribution from this segment to consolidated EBITDA remains low at around 10 per
cent.(Spin-off)