Reliance to pay $1.35 bln for Pioneer field stake-FT

MUMBAI, June 22 (BestGrowthStock) – India’s Reliance Industries
(RELI.BO: ) was close to announcing a deal to pay $1.35 billion
for a stake in a Texas shale gas field controlled by Pioneer
Natural Resources (PXD.N: ), the Financial Times reported, citing
people familiar with the matter.

Reliance, India’s largest listed company, will buy a 45
percent stake in the Eagle Ford shale gas field in south Texas,
the people said, according to the newspaper.

A Reliance official declined to comment when reached by
Reuters.

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(Reporting by Indulal P.M.)

Reliance to pay $1.35 bln for Pioneer field stake-FT